© Dukascopy Bank SA
- HiFX (based on the BusinessDesk)
Pair's Outlook
By the end of the yesterday's trading session the Kiwi fell to the lowest level this year at 0.7698. However, the support offered by the weekly S1 and the major level at 0.7703/00 helped the pair to reverse some of the losses and to climb higher today. In the longer term we see the pair trading lower, while in the short term a test of 0.78 seems likely, as there is not enough of bearishness to drag the pair below the supports near the 0.77 mark.
Traders' Sentiment
The gap between the amount of long (49%) and short (51%) positions remains negligible, meaning the traders' sentiment is neutral for the time being. Meanwhile, the percentage of orders set to acquire the Kiwi dropped to 39% from 54% yesterday.
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