- UOB (based on FXStreet)
The Aussie bounced off of the down-trend yesterday and plunged towards the second support area, erasing Monday's gains completely. Overall, the situation with the NZD/USD currency pair is quite similar to the AUD/USD, as it is now under the risk of piercing the up-trend under the opening price. In the Kiwi's case, the trend-line is also reinforced by the 20-day SMA, while, the resistance is also quite strong, represented by the 55, 100 and 200-day SMAs. Technical indicators, however, are giving mixed signals, suggesting the NZD could remain relatively unchanged against the US Dollar.
For the third day market sentiment remains in perfect equilibrium. Buy orders take up only 48% of the market, down from 85%.