© Dukascopy Bank SA
- ASB Institutional (based on the New Zealand Herald)
Pair's Outlook
We have seen the Kiwi falling since the pair's sideways trend was broken at the end of March (March 28). Now we are seeing a new downtrend that is in a rather narrow range; therefore, a breakout could be expected. If by any case the pair bounces from the 200-day SMA at 0.8395 then the trend might be broken around the weekly PP at 0.8506 and an advance towards the monthly PP at 0.8575 is possible. Nevertheless, we see a bearish scenario as more likely, meaning that the Kiwi could slip below the monthly S1 at 0.8372.
Traders' Sentiment
For the first time in more than 100 trading days the majority of the SWFX traders are expecting the Kiwi to outperform the greenback, 52% to be precise.
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