Dukascopy - Analytics

    Dukascopy

    472.50 6.00/10
    83% of positive reviews
    Real

    NZD/USD might reach 0.75

    © Dukascopy Bank SA
    "The model remains long NZD for another week, with a positive growth and total yield signal more than offsetting a poor long term valuation signal for another week." 
    - Westpac (based on WBP Online)


    Pair's Outlook 
    In spite of all the expectations the Kiwi slumped versus the US Dollar. The nearest support cluster was breached, whereas the 100-day SMA prevented the pair from ceding even more ground. The session ended with the price of 0.7532. Meanwhile, the technical studies stay bullish. Nevertheless, if the fundamentals do not disappoint, the US Dollar is likely to weigh on NZD/USD, and a fall towards 0.75 remains highly possible. 

    Traders' Sentiment 
    Trader's outlook towards the Kiwi worsened, as 62% of all positions are now short, and the remaining 38% are long. Meanwhile, the number of orders to acquire the New Zealand Dollar decreased from 47 to 43%.
    © Dukascopy Bank SA

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