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"We expect that the New Zealand dollar might even get to Aussie dollar parity for the first time in 40 years. That's a big deal for New Zealand of course, because it will put some pressure on the traded sectors of the economy."
- HSBC (based on ABC News)
Pair's Outlook
Pair has peaked above the 84 cent mark, but seems to be struggling with September high/monthly R2/weekly R3 at 0.8436/55. It seems we might see some consolidation here as neither RSI or Stochastic predict any turnarounds and trend indicators are giving mixed feelings. Short terms dips are possible, but should not go below the 0.8345/33 area.
Traders' Sentiment
Virtually no change in the market sentiment is observed today. Bears continue to hold overwhelming majority, 73%, of all open positions and bullish side of pending orders increased (by 14%) only in 50% pip range. In other ranges and overall change was up to 3%.
© Dukascopy Bank SA