© Dukascopy Bank SA
- BK Asset Management (based on the New Zealand Herald)
Pair's Outlook
This week the Kiwi set new 2014 high once again at 0.8780; however, since then it declined and reached the monthly and weekly PP at 0.8622/15. At the moment it seems that this support level should hold the pair above the major level at 0.8600. In case the pair slips beneath 0.86 that could encourage pair's bears; although, a drop below the major level and at the same time monthly S1 at 0.8500 is unlikely.
Traders' Sentiment
The gap between the bearish and bullish SWFX traders is little changed as 72% of the SWFX market participants expect the Kiwi to decline. At the same time the difference between the buy (68%) and sell (32%) orders is widening.
© Dukascopy Bank SA