Technical Analysis NZD/USD unable to breach 0.87 level
Pair’s Outlook
The New Zealand Dollar is still unable neither to breach the 0.87 mark nor the monthly PP/55 and 100-day SMAs at 0.8654/42. We are pessimistic on the pair’s advance, at least for now we do not see it breaking the weekly PP at 0.8727. To our mind a decline would make much more sense, although, the pair needs a substantial push from its bears to break the previously mentioned support levels. The daily technicals bearishness could help.
Traders’ Sentiment
The difference between the amounts of long and short positions open on NZD/USD has narrowed since the previous report. At the moment of writing 56% expect the Greenback to outperform the New Zealand’s counterpart.
Source: Dukascopy
