Dukascopy - Analytics


463.75 6.25/10
83% of positive reviews

NZD/USD stuck within the borders of weekly S2 and monthly S1

© Dukascopy Bank SA
"We expect the US dollar to remain in demand." 
- ANZ Bank New Zealand (based on The New Zealand Herald) 

Pair's Outlook 
The New Zealand Dollar failed to outperform the Buck, which received a boost from better-than-expected Durable Goods Orders data release. The Kiwi is not stuck between the monthly S1 from the upside and the weekly S2 and Bollinger band from below, keeping the NZD/USD within their borders. Technical indicators retain their mixed signals, suggesting the pair might remain caged inside today; however, a break to the downside is possible due to strong US fundamentals, while a break of the monthly S1 could trigger a rally towards 0.65 again. 

Traders' Sentiment 
Today 48% of traders hold long positions, up from 40% yesterday. The share of sell orders now accounts for 83% of the market.
© Dukascopy Bank SA

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