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"The RBNZ should consider a further modest easing in monetary policy to support the productive side of the economy."
- Deutsche Bank (based on The Economic Times)
Pair's Outlook
After few amazingly bearish day pair managed to pick up after receiving bullish impetus from weekly pivot (S2) at 0.8132. Although recovery of the pair was rather strong, but it is much more likely pair will be driven by market sentiment and new trading week will start with an attempt to fall below Bollinger band.
Traders' Sentiment
No less than 70% of traders have been bearish on the pair for the last week; not exception is this trading day—74% of all open opposition on the pair are short. Amount of pending orders predict a further bearishness in the market as 60% of them are to go short.
© Dukascopy Bank SA