© Dukascopy Bank SA
- Westpac Banking Corp. (based on the New Zealand Herald)
Pair's Outlook
At the moment the pair is slowly sliding lower; although, it is still hovering slightly above the major level at 0.88. In case, the Kiwi weakens below the 0.88 mark and also beneath the weekly PP at 0.8788. At the same time we do not exclude a possibility of the Kiwi appreciating slightly higher, however, we are pessimistic on the pair reaching record high at 0.8845. The technical indicators support the sideways trend that we are seeing now.
Traders' Sentiment
An overwhelming majority of the SWFX market participants see the U.S. Dollar to be undervalued against the Kiwi. Right now 73% of traders are short the pair, while merely 27% of them expect the currency to depreciate in price even more.
© Dukascopy Bank SA