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    NZD/USD retreats after opening higher

    © Dukascopy Bank SA
    "(The) New Zealand dollar has been boosted by further Chinese stimulus." 
    - ANZ Bank New Zealand (based on The New Zealand Herald)


    Pair's Outlook 
    The Kiwi behaved in accordance with the forecast last Friday, edging up, but slightly less than anticipated. The NZD/USD pair tested the resistance at 0.7741, before ending the trading session at 0.7672. The initial cluster of important levels prevented the New Zealand Dollar from substantial gains. On Monday a correction is likely to happen, while technical indicators are emitting neutral signals. The nearest significant support lies at 0.7655, namely the 200-day SMA; however, a fall that sharp is unlikely to happen. 

    Traders' Sentiment 
    Bearish sentiment grew stronger, with 27% of traders being short the Kiwi. Meanwhile, there are less commands to acquire the NZ Dollar, accounting for only 40% of the market.
    © Dukascopy Bank SA

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