© Dukascopy Bank SA
- OMF (based on the New Zealand Herald)
Pair's Outlook
At the beginning of this trading week the Kiwi remains vulnerable, it seems that the pair is poised to reach the monthly S1 at 0.8513 and possibly the major level at 0.85. Four out of eight daily technical indicators are bearish; however, the weekly and monthly studies are neutral. Therefore, the longer run technicals could slow down the down-trend that started on July 10th, since then the pair has lost 300 pips.
Traders' Sentiment
Market sentiment remains unchanged as bears and bulls both are at 50% for a second straight day. In the meantime, the portion of buy orders advanced, from 69% to 74%; therefore, this number could go up.
© Dukascopy Bank SA