© Dukascopy Bank
- ANZ Bank New Zealand (based on the New Zealand Herald)
Pair's Outlook
Today the Kiwi managed to extend its advance and it almost reached the record high at 0.8845, trading just 6 pips lower. However, it seems that it did not manage to handle the pressure and therefore dived below the weekly R2 at 0.8822. Critical for the pair might be whether it holds its position above the major level at 0.88. If it slips beneath this level then a sell-off could start and the Kiwi could depreciate towards the weekly PP and 20-day SMA at 0.8748.
Traders' Sentiment
Only 26% of the SWFX traders remain bullish, making it the lowest level in two trading days. At the same time, the share of sell orders grew slightly from 35% up to 37%.
© Dukascopy Bank