Dukascopy - Analytics

    Dukascopy

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    NZD/USD holds the same level

    © Dukascopy Bank SA
    "Everybody feels safety and security in owning U.S. paper, whether it's U.S. government bonds or the dollar." 
    -  Olympian Capital Management LLC (based on Bloomberg)

    Pair's Outlook 
    The NZD/USD pair stayed mainly unchanged for the end of the week, as the pair slightly edged up from Thursday's slump. The pair failed to pierce the 50% Fibonacci retracement level at 0.7552. According to the technical indicators the New Zealand Dollar is likely to increase again through Monday, but the weekly aggregate arrow is pointing south, indicating a decline. Meanwhile, the closest support still remains at the 50% Fibo, while the nearest resistance near the 61.80% Fibo and weekly S1. 

    Traders' Sentiment
    Although the bearish sentiment is not as weak as on Friday, there are still more bears than bulls, they constitute 58% of the market. At the same time, the portion of sell orders is at 60%.
    © Dukascopy Bank SA

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