© Dukascopy Bank SA
Pair's Outlook
The Kiwi remained strongly bullish stance and it managed to set a new 2014 high at 0.8795 this week. Today the pair slid slightly closer to the weekly R1 at 0.8747. Now, despite the pair's strong momentum and bearish technical indicators we do not suspect the pair setting a new historical high (at 0.8843). Although, we expect the currency pair failing to break the major level at 0.88. In July the pair could lose some of its gains; however, its falling below 0.85 mark is unlikely.
Traders' Sentiment
The sentiment towards the pair remains strongly bearish, with a overwhelming majority (71%) of the SWFX market participants. Meanwhile, the share of sell orders was little changed at 67%.
© Dukascopy Bank SA