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NZD/USD takes another shot and breaching monthly PP

© Dukascopy Bank SA
"The ongoing (Fed) rhetoric of data-dependence and a reluctance to commit is becoming tiresome to the market." 
- Foenix Partners (based on CNBC)


Pair's Outlook 
Even though the 0.66 major level kept the NZD/USD from advancing, the pair still managed to edge closer to it, rather than falling down. The Kiwi kept climbing for three consecutive days, and today's technical studies suggest the NZ Dollar is likely to outperform the Greenback for the fourth day in a row. However, a strong resistance cluster rests around 0.6645, which might turn the tide along with the 0.66 psychological level. Ultimately, the NZD might retreat towards the weekly PP at 0.6552, or meet resistance around 0.6650. 

Traders' Sentiment 
Bearish traders' sentiment returned to its Monday's level of 57%. Meanwhile, the percentage of commands to sell the Kiwi increased from 53 to 68%.
© Dukascopy Bank SA


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