© Dukascopy Bank SA
- Governor Graeme Wheeler (based on interest.co.nz)
Pair's Outlook
The Kiwi is attacking the weekly PP at 0.8669 for a second straight day proving that it has not lost its bullish momentum. However, if the New Zealand currency continuously fails to break this resistance level, then that could cause a selloff. In case the weekly PP is breached then the pair could approach the major level at 0.87. The technical indicators are largely bullish and the pair is supported by monthly PP, 20 and 55-day SMAs and major level at 0.8622/00, these support levels should keep the pair above the 0.86 level.
Traders' Sentiment
More than 70% of the SWFX market participants believe that the U.S. Dollar is going to outperform the Japanese Yen. However, this number could fall, as 27% of orders are set to sell the Kiwi.
© Dukascopy Bank SA