Dukascopy - Analytics


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    NZD/USD takes another crack at 0.66

    © Dukascopy Bank SA
    "It's all been about the commodities units again this morning. There's been some recovery but I wouldn't hold my breath, the outlook for them all still looks weak." 
    - A dealer at an international bank in London (based on Reuters) 

    Pair's Outlook 
    The Kiwi behaved according to the forecast, as it declined for the fifth day in a row. The five-year low was tested once again, but the NZD/USD remained strong above it. As a result, the NZ Dollar is likely to rebound today, despite technical studies retaining their mixed signals. The immediate resistance barrier is still represented by the 20-day SMA at 0.6601 and is going to be rather difficult to penetrate, although a surge to 0.6632, namely the monthly PP, is not out of the question.  

    Traders' Sentiment 
    Market sentiment slightly improved, as 47% of all positions are long, compared to 43% previously. Meanwhile, the number of sell commands added three percentage points, up to 75%.
    © Dukascopy Bank SA

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