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    NZD/USD struggles to close trade gap

    © Dukascopy Bank SA
    "Over the week ahead, we expect the downward pressure on the New Zealand dollar to continue. We expect poor market sentiment to persist over the week ahead." 
    - ASB (based on The New Zealand Herald) 

    Pair's Outlook 
    The New Zealand Dollar remained relatively unchanged against the American one, despite having slumped to 0.6380 on Friday. Nonetheless, the NZD/USD opened with a bearish gap today, struggling to close it completely, as volatility was limited by the weekly PP at 0.6476. Meanwhile, the monthly S2 is somewhat providing immediate resistance at 0.6444, which could cause the pair to stabilise below 0.6440 by day's end. However, according to technical studies, the Kiwi is likely to drop under the 0.64 level, with the Bollinger band attempting to stop the fall around 0.6390. 

    Traders' Sentiment 
    Today 63% of all open positions are long, compared to 74% on Friday. The share of sell commands lost 18% points, falling to 57%.
    © Dukascopy Bank SA

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