Dukascopy - Analytics

    Dukascopy

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    NZD/USD to stay bearish

    © Dukascopy Bank SA
    "A further fall to 64 cents would not surprise."
    - Westpac Banking Corp. (based on WBP Bloomberg)

    Pair's Outlook
    NZD/USD has broken out of the symmetrical triangle in the four-hour chart to the downside, meaning we are highly likely to see continuation of the decline from 0.6870 started at the very end of 2015. The case for a weaker Kiwi is further supported by the technical indicators, a majority of which is bearish, especially in the monthly perspective. At the same time, there are currently no important support levels nearby, meaning there are very few things against a quick dip down to 0.6320/15.

    Traders' Sentiment
    There are a little less bulls than yesterday—their share fell from 63 to 60%. Considering the orders, there is no more tangible difference between the amounts of buy (46%) and sell (54%) ones.

    © Dukascopy Bank SA

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