Dukascopy - Analytics

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    NZD/USD struggles to exit weekly consolidation range

    © Dukascopy Bank SA
    "The divergence between monetary policy at the big central banks is very powerful. We're not fully priced yet for a Fed hike in December and when they do lift off we'll have to put a load in for the next two years." 
    - Millennium Global (based on CNBC) 


    Pair's Outlook 
    The Kiwi edged lower against the US Dollar on Thursday, with downside volatility limited by the 0.65 major level, rather than the 55-day SMA. Even though the range between the 55 and 100-day SMAs is even narrower today, a break in either direction is possible. The second area to stop the NZ Dollar from further losses is located around 0.6470, namely the monthly S1 and the Bollinger band. Meanwhile, the weekly PP is the next resistance in case the 100-day SMA gets pierced today.  

    Traders' Sentiment 

    Today 60% of all positions are long (previously 55%). The buy and the sell orders broke out of the equilibrium, with only 45% of all orders to acquire the NZD.
    © Dukascopy Bank SA

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