© Dukascopy Bank SA
"Signs of solidity in November could be sufficient to shore up improving global growth expectations and risk appetite generally. The 'risk-sensitive' New Zealand dollar would be a beneficiary."
- Bank of New Zealand (based on The Economic Times)
Pair's Outlook
Pair resumed to appreciate after taking a step back yesterday. At the moment it is testing weekly and monthly R1. We expect it to be breached soon. 0.84 should not give up easily and we expect to see a formation of another peak there. In case of a failure the pair should fall till 81 cent mark.
Traders' Sentiment
Bears continue to dominate in the market as they hold 74% of all open positions on the pair and 70% of pending orders are set in their favour as well.
© Dukascopy Bank SA