© Dukascopy Bank SA
"It is looking increasingly like New Zealand has a less dire story to tell than the rest of the world."
- Bancorp Treasury Services (based on TVNZ)
Pair's Outlook
Pair tried to advance right from the beginning of the week, but crumbled already at the first stop at Bollinger band. It did not manage to recover even since and it seems that it is at current levels only due to the fact it is being supported by a cluster of levels. If it breaches it we are almost certain to see dip at least to 0.815 area.
Traders' Sentiment
Amount of short traders increased by 2% since Friday and continue hold overwhelming, 72%, majority in the market at the moment. Share of pending sell orders is holding at the same, 68%, level suggesting that we should not see much of a change in the near future.
© Dukascopy Bank SA