Dukascopy - Analytics

    Dukascopy

    485.50 6.00/10
    83% of positive reviews
    Real

    NZD/USD climbs to retake 0.67

    © Dukascopy Bank SA
    "You remove the price demand for these commodities and the currency struggles, or the currency needs to realign, and I think that's what's going on." 
    - OMF (based on The New Zealand Herald) 


    Pair's Outlook 
    On Tuesday, the New Zealand Dollar edged closer to the Bollinger band, which caused the Kiwi to bounce back and end the day with only minor losses. Today downside volatility also reached the Bollinger band, which prevented a deeper fall. Therefore, this support is likely to cause a rebound and help the NZD/USD to reclaim the 0.67 major level, negating this week's losses. Meanwhile, the closest resistance is located only at 0.6737, meaning that the given pair will doubtfully have the strength to reach it.

    Traders' Sentiment
    Although not as strong as yesterday, but SWFX traders' sentiment remains bullish at 66%. At the same time, the share of buy orders nearly doubled. The commands now take up 56% of the market.
    © 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