© Dukascopy Bank SA
- Bank of New York Mellon (based on Bloomberg)
Pair's Outlook
The Kiwi extended its yesterday's appreciation against the buck today. The pair traded just 4 pips below this year's high at 0.8780; although, afterwards it fell lower. The New Zealand Dollar remains very strong and it is trading very close to not only this year high but also all-time high at 0.8843 (set in August 2011) that will be very hard to reach. Despite the high levels the majority of pair's technical indicators remains bullish, suggesting further strengthening.
Traders' Sentiment
The sentiment towards the Kiwi remains unchanged, 74% of SWFX market participants are bearish on the pair. The distribution between the buy and sell orders has narrowed since yesterday—34% and 66% respectively.
© Dukascopy Bank SA