© Dukascopy Bank SA
"With the Bank of Japan, the Fed, the ECB to a degree, and the Bank of England as well, all looking to step up easing measures, it makes Australia and New Zealand quite attractive. Money needs to go somewhere."
- St. George Bank Ltd. (based on Bloomberg)
Pair's Outlook
Despite the gained momentum 0.854 was impenetrable for the pair yesterday. It continued to appreciate today as well, but the mentioned level seems to cause serious problems for the kiwi bulls. In addition, technicals point at depreciation of the pair and market sentiment dynamics show that that despite the taken hit market bears are still strong.
Traders' Sentiment
Bears took a significant hit as their share in the market has decreased by 11% since yesterday. However, they still hold significant share of outstanding positions on the pair which reaches 62% gauge. Pending orders are in favour for the bears (74%) so it might be that this was just one of a time event.
© Dukascopy Bank SA