© Dukascopy Bank SA
"There's no chance of QE3 being mentioned and with housing markets improved there's a risk it's going to be slightly more hawkish. We should see the currency continue to drift off, but it should hold above 80 US cents."
-Tim Kelleher, ASB institutional (based on TVNZ)
Pair's Outlook
After peaking yesterday Kiwi is fulfilling expert predictions and is staying closer to 80 US cent mark. It is likely pair will attempt to advance above 81 cent mark, but we can observe quite a few resistance levels above that mark which should contain the pair in 80-81 cent boundaries.
Traders' Sentiment
Trader sentiment slipped in favor for the bulls since yesterday as 52% of traders keep long positions on the pair at the moment. However, in the range of 100 pips from current market price 80% of traders have posted sell orders suggesting a possible major shift in traders sentiment in the near future.
© Dukascopy Bank SA