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    NZD/USD steps back again

    © Dukascopy Bank SA
    "The New Zealand dollar lost ground yesterday as markets interpreted the RBNZ as shifting from a neutral bias to a neutral bias with downside risks." 
    - ANZ (based on The New Zealand Herald) 


    Pair's Outlook 
    Despite all bullish signs the NZD/USD pair confirmed the forecast, as it declined yesterday. The immediate support was pierced, as well as the second one, but the trading session still ended at 0.7580, just under the 20-day SMA. The Kiwi is expected to weaken for the third consecutive day. This time, the strong support cluster around 0.7505 might be reached, while technical indicators keep emitting neutral signals. The overall bias for the pair remains bullish, and a rebound should take place, starting next week. 

    Traders' Sentiment
    Slightly more traders have a positive outlook towards the Kiwi today, as the percentage of longs returned to its Wednesday's level of 30%. The buy and the sell order ration is now equal to one.
    © Dukascopy Bank SA

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