© Dukascopy Bank SA
"Tomorrow's RBNZ review is critical for the kiwi because of the new man. Anything could happen because is a new man and we don't know his character."
-Westpac Banking Corp (based on TVNZ)
Pair's Outlook
After depreciation 70 pips pair did no manage to breach 0.8116/0.8098 are where it receiver strong bullish impetus and at the moment is testing weekly pivot (PP) at 0.8164. This level might provide some resistance, but should not be hard of a task for pair making 0.8177/81 are the next target, which will be much tougher target.
Traders' Sentiment
Short traders are holding ground with 66% share in the market, making sentiment strongly bearish. 63% of all pending orders on the pair are to go short, suggesting even further strengthening of bearish market sentiment in the near future.
© Dukascopy Bank SA