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    NZD/USD falls down, prolongs pattern

    © Dukascopy Bank SA
    "We already know where the head of the US central bank stands. She believes that rates will rise this year but is undecided on whether that will be in September or December." 
    - BK Asset Management (based on The New Zealand Herald) 


    Pair's Outlook 
    The New Zealand Dollar behaved according to the forecast yesterday. The NZD/USD currency pair tested the upper channel border, but stabilised at the 0.67 major level, also bolstered by the weekly PP, as was foretold. Today the Kiwi is expected to maintain trade within the channel's borders and decline against the American Dollar, possible reaching the lower Bollinger band around the 0.66 major level. Technical studies are also bolstering the chances of a negative outcome with their bearish signals.  

    Traders' Sentiment 
    Bullish traders' sentiment remains unchanged at 71%. At the same time, the number of orders to purchase the NZ Dollar gained seven percentage points. The commands now take up 49% of the market.
    © Dukascopy Bank SA

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