© Dukascopy Bank SA
"We don't have a great deal of data this week, not just here but globally. The downside is beginning to get very limited for the kiwi now."
- OMF (based on TVNZ)
Pair's Outlook
Pair continues to hover above the cluster of SMAs around 0.8278/56. It might provide a bullish impetus for the pair and push it to test February high in the nearest future, but, taking in mind recent development, that seems rather unlikely at the moment. Dip below these SMAs, however, most likely would ignite a major sell off till 0.8172.
Traders' Sentiment
Distribution between the bears and bulls remains almost unchanged—around 30% bullish. However, pending orders remain volatile as we saw a 15% increase in 50pip range, but 100 pip range distribution hasn't moved a bit during the weekend.
© Dukascopy Bank SA