© Dukascopy Bank SA
"The Chinese data was slightly better than expected, though the kiwi's struggling to top 82 US cents. It's hard to see the kiwi break out of the range with Thanksgiving tomorrow and Japan on holiday on Friday."
- ASB Institutional (based on TVNZ)
Pair's Outlook
Pair started trading session with a dip, but managed to recover after receiving a bullish impetus from daily pivot (PP) at 0.812. However, future prospects of the pair look rather grim as both, technical indicators and market sentiment point at a depreciation of the pair. It is reasonable to anticipate a dip to 0.81; it is possible to see a dip to 0.805 if pair gains momentum as it did almost a week earlier.
Traders' Sentiment
Bears gained some ground since yesterday, but overwhelming majority of traders continue holding short positions on the pair—73% to be exact. This mood should remain more or less unchanged in the near future as pending orders are almost evenly distributed between the bears and the bulls.
© Dukascopy Bank SA