Dukascopy - Analytics


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    NZD/USD puts the up-trend to the test

    © Dukascopy Bank SA
    "From here, there is no chance to the neutral view and we expect NZD to trade between 0.6560 and 0.6750 in the coming days."
    - UOB (based on FXStreet) 

    Pair's Outlook 
    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. 

    Traders' Sentiment 
    For the third day market sentiment remains in perfect equilibrium. Buy orders take up only 48% of the market, down from 85%.
    © Dukascopy Bank SA

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