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NZD/USD risks falling under 0.65

© Dukascopy Bank SA
"Earnings are probably more important than the employment rate today, anything above 2.3 percent growth in annual terms should help the [US] dollar." 
- Sigma Broking (based on Reuters) 


Pair's Outlook 
Although the New Zealand Dollar regained the bullish momentum yesterday, the surge was not as strong as anticipated. The NZD/USD barely managed to stabilise above 0.66, without even reaching the target of 0.6658 (weekly S1) during the day. The Bollinger band and the 100-day SMA keep providing support today, but a fall towards the 0.65 major level also has a solid chance to occur, with the second support cluster located around 0.6520, namely the weekly S2 and 55-day SMA. Technical studies, however, are failing to support the negative outcome. 

Traders' Sentiment 
There are 62% of traders currently holding long positions, whereas the share of sell orders added 18 percentage points, to 81%.
© Dukascopy Bank SA


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