© Dukascopy Bank SA
"The New Zealand dollar like most of its peers seems rather stuck in limbo as it awaits the postponed release of US payrolls data tonight. Any softness in the data could see the New Zealand dollar benefit from US dollar weakness, as QE 'tapering' expectations are pushed back further."
- Bank of New Zealand (based on Bank of New Zealand)
Pair's Outlook
Pair seemed liked dipping below the September high, but received bullish impetus from it and at the moment is aiming at weekly and monthly R1. Pair seems more than capable to do so which would put 2013 high on the map. However, we don't see the pair advancing through it with ease. Failure at any of these levels could send the pair trailing towards 0.823.
Traders' Sentiment
Situation in the market remains rather similar to the one yesterday.
Bears continue to account for 75% of all market participants. Bullish side of pending decreased by 2%, but this seems only a marginal change as overall level is at 67%.
© Dukascopy Bank SA