Dukascopy - Analytics

    Dukascopy

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    NZD/USD falls under 0.74

    © Dukascopy Bank SA
    "The US dollar remained on the back foot, as markets digested the details. This helped lift (the) New Zealand dollar." 
    - ANZ Bank (based on The New Zealand Herald)


    Pair's Outlook 
    The NZD/USD currency pair managed to regain bullish momentum last Friday. Kiwi stretched even towards 0.75, but stabilised at 0.7488, thus, erasing Thursdays losses completely. Today, however, the NZ Dollar is likely to decline against the Greenback. The nearest support rests at 0.7413, namely the monthly S1, although the New Zealand currency is expected to fall deeper towards the lower Bollinger band or even the weekly S1. Technical indicators retain mixed signals, unable to confirm the scenario.

    Traders' Sentiment 
    Market sentiment slightly improved, but remains bearish at 57% (previously 59%). At the same time, the number of commands to acquire the Kiwi increased from 52 to 61%.
    © Dukascopy Bank SA

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