© Dukascopy Bank SA
- ANZ Bank (based on The New Zealand Herald)
Pair's Outlook
Despite the expectations the Kiwi decided to cede ground on Monday. Yesterday's daily technical indicators proved to be unreliable, while today they also are pointing north. At the same time, the US data turned out to be weaker than estimated, creating a chance for the Antipodean currency to appreciate. The closest resistance consists of the weekly and monthly pivot points; and additional supply could be found at 0.7480, represented by the 20-day SMA.
Traders' Sentiment
Market sentiment remains unchanged, as the percentage of longs stands at 26%. The number of orders to acquire the Kiwi increased by three percentage points to 31%.
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