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    NZD/USD flirting with 0.65

    © Dukascopy Bank SA
    "he recent data over the last two weeks has been much better than expected. The kiwi is really struggling to get over 66 (US cents)."
    - HiFX (based on The New Zealand Herald)


    Pair's Outlook
    Although the New Zealand Dollar weakened against the US currency last Friday, losses were barely noticeable, as the pair edged down only five pips, remaining trapped between the 55 and 100-day SMAs. Bears took over today, forcing the Kiwi to fall beyond 0.65, also breaking the one-week consolidation trend. Despite such a strong decline, the NZ Dollar lacks the strength to penetrate the barrier around 0.6470. Nevertheless, a close around the 0.65 major level is the most probable outcome, while technical studies are supporting the possibility of a slump. 

    Traders' Sentiment 
    Bullish traders' sentiment returned to last Monday's level of 55%. The portion of sell orders increased again, adding 6% points to 61%.
    © Dukascopy Bank SA

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