Dukascopy - Analytics

    Dukascopy

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    Real

    NZD/USD stuck within the borders of weekly S2 and monthly S1

    © Dukascopy Bank SA
    "We expect the US dollar to remain in demand." 
    - ANZ Bank New Zealand (based on The New Zealand Herald) 


    Pair's Outlook 
    The New Zealand Dollar failed to outperform the Buck, which received a boost from better-than-expected Durable Goods Orders data release. The Kiwi is not stuck between the monthly S1 from the upside and the weekly S2 and Bollinger band from below, keeping the NZD/USD within their borders. Technical indicators retain their mixed signals, suggesting the pair might remain caged inside today; however, a break to the downside is possible due to strong US fundamentals, while a break of the monthly S1 could trigger a rally towards 0.65 again. 

    Traders' Sentiment 
    Today 48% of traders hold long positions, up from 40% yesterday. The share of sell orders now accounts for 83% of the market.
    © Dukascopy Bank SA

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