© Dukascopy Bank SA
"They're all coming back after Christmas and the longer they go, the worse it gets. It's going to be a little risk off for the next couple of days, which will weigh on the kiwi dollar."
- ASB Institutional (based on TVNZ)
Pair's Outlook
Pair received a bearish impetus from 20-dai SMA at 0.8338 and has been depreciating ever since—for the time being it dipped 100 pips in the course of 16 hours. Such vast pace gives strong support for a presumption that momentum is in play and as a consequence 0.8239 will be just a minor stop in the pairs path. Most probable major support which could stabilize the pair is around 0.821 where 100-day SMA and weekly R3 reside.Traders' Sentiment
Three out of four traders continue to sell the kiwi versus its North American counterpart and it seems that such situation where bears dominate in the market will last for quite some time since 74% of all pending orders on the pair are to sell the pacific currency.
© Dukascopy Bank SA