Dukascopy - Analytics


    472.75 6.25/10
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    NZD/USD hikes toward the 50% Fibonacci

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    "Crude oil prices gained over 2 percent ... on news of U.S. industry spending cuts and declining U.S. drilling."
     - ANZ bank (based on MarketWatch)

    Pair's Outlook
    The NZD/USD pair appreciated today, following the second week of appreciation. The 55– 100– and 200– day SMAs are still pointing to the south, however, the pair is moving in a completely different direction. Once the pair hits the 0.760, a level that was hold since September 2014 till January 2015, a reverse is expected. During the day, the price ticked to the 50% Fibonacci level at 0.755 and fell to the 61.80% Fibonacci, forming the daily low.

    Traders' Sentiment
    The market becomes more hesitant on whether to buy the pair since only 31% currently are being long. In addition, 42% of all would buy the pair if the prices changes for 50– pips. The 100– pip pending orders are generally bearish for 81% of the case.
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