© Dukascopy Bank SA
- Societe Generale SA (based on Bloomberg)
Pair's Outlook
This definitely has been one of the worst weeks for the pair in a while as it has lost almost 200 pips. The Kiwi has lost its strength and the currency has been searching for a serious support for some time now; however, unsuccessfully. To our mind the next significant support level could be the monthly S1 at 0.8513 together with the major level at 0.85 that has not been reached since the beginning of June. The short term technical indicators are more to the downside for the Kiwi.
Traders' Sentiment
There is a complete parity in the pair's sentiment. Moreover, there has not been more bulls than bears among the pair's traders in almost two months, meaning the traders are thoughtful for now
© Dukascopy Bank SA