© Dukascopy Bank SA
- ASB Bank (based on the New Zealand Herald)
Pair's Outlook
The Kiwi's bears still have not found a way how to break the support levels (monthly PP, 55 and 100-day SMA and weekly S1) slightly below the current trading levels. However, if the pair finally dives beneath these levels then that might start a sell-off. At the same time it is possible that the pair will continue to hover in the range from the weekly S1 at 0.8630 to the major level at 0.87. Taken all into account sideways trend is possible; although, we are more bullish.
Traders' Sentiment
The sentiment is becoming more and more bullish as of today already 42% of the SWFX market participants are long; however, few days ago this number was around 30%.
© Dukascopy Bank SA