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"Things are gathering pace in preparation that the Fed won't be firing up the printing presses in September. The trend for the kiwi is to keep at the bottom end of its range, between 80 US cents to 82.30 cents.
- Mike Jones, bank of New Zealand (based on TVNZ)
Pair's Outlook
Pair has lost all of its yesterday gains today. However, pair is testing 0.8074 and approaching 0.8053 which could push it back closer to 0.81. However, outlook on the pair remains rather neutral providing a high probability that the pair continue moving above 200 day SMA, but below 0.81.
Traders' Sentiment
Current market sentiment remains in slight favor for the bulls today and is at 52% mark. Allocation of pending orders does not predict any changes in the sentiment since equal number of of traders have posted sell and buy orders.
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