Dukascopy - Analytics


    485.50 6.00/10
    83% of positive reviews

    NZD/USD stuck between 0.75 and 0.7550

    © Dukascopy Bank SA
    "The [US] unemployment rate is also expected to drop to 5.4 per cent, which would represent a big improvement that should breathe new life into the US dollar."  
    - BK Asset Management (based on The New Zealand Herald)

    Pair's Outlook 
    On Friday, the Kiwi suffered substantial losses of 63 pips. The monthly PP failed to prevent the NZD/USD pair from declining, while the 55-day SMA succeeded. Technical indicators are now showing bullish signs; however, we expect the New Zealand Dollar to drop further down. We should not rule out a possibility of a hike, which has a solid chance to occur if the US fundamentals disappoint later in the evening. Gains should be limited by the 55-day SMA at 0.7543, a rather strong support cluster rests around 0.75. 

    Traders' Sentiment 
    Market sentiment remains bearish, with 72% of all positions being short (previously 74%). The buy orders are now in the majority, taking up 51% of the market, compared to 46% previously.
    © Dukascopy Bank SA

    To leave a comment you must or Join us

    By visiting our website and services, you agree to the conditions of use of cookies. Learn more
    I agree