Dukascopy - Analytics


    472.75 6.25/10
    83% of positive reviews

    NZD/USD breaks above the May 2012 low level

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    ‘'The proposed mechanism is not the way to deal with that, rather the proposed mechanism primarily constitutes a trade barrier.''
     - BSA The Software Alliance (based on MarketWatch)

    Pair's Outlook
    The NZD/USD cross bullish traders gained today as the pair headed up above the strong resistance line at 38.20% Fibonacci retracement or the May 2012 low, 0.745. The pair is still trading below the 55– 100– and 200– day SMAs, which are moving to the south. The NZD/USD seems to be approaching the bottom trend line bottom at 0.748, the level of the weekly R1.

    Traders' Sentiment
    The market lost some investors and 35% of all are buying currently, down from 41% last time. The pair will be sold by 47% of traders once it surpasses the 50– pip range. The 100– pip pending orders have the same amount of bulls and bears.
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