© Dukascopy Bank SA
"The market is looking for the number that is not too bad and that probably explains why the Aussie has outperformed the kiwi over the last few days."
-Westpac (based on TVNZ)
Pair's Outlook
Pair is continuing to demonstrate choppy sessions. Together with readings of technical indicators it strengthens the opinion that pair is somewhat range bound by Bollinger band and weekly pivot at 0.8224 and it would not be much of a surprise if it would rebound once again from latter level.
Traders' Sentiment
Bearish sentiment on the pair remains strong and hovers slightly above 70% for the full trading week already. Distribution of pending orders predict further strengthening in such sentiment as 57% of pending orders on the pair are to sell.
© Dukascopy Bank SA