© Dukascopy Bank SA
- Bank of New Zealand (based on the New Zealand Herald)
Pair's Outlook
This week the Kiwi reminded about the fact that it has been the best performing currency this year as it reached the monthly R1 at 0.8699. However, today it lost some of the gains and is trading close to the weekly R2 at 0.8637. Even though, in our opinion the Kiwi is overbought it still manages to hold its positions above the major level at 0.86. Moreover, also the weekly and monthly technical indicators are bullish. Nonetheless, we are still bearish and we anticipate the Kiwi to fall towards the monthly PP at 0.8575.
Traders' Sentiment
An overwhelming majority (74%) of the traders believe that the buck is going to regain its bullishness and increase in value relative to the New Zealand Dollar.
© Dukascopy Bank SA