© Dukascopy Bank SA
"When you've got a low volatility environment the relative health shines through, and the New Zealand dollar looks alright."
-Commonwealth (based on TVNZ)
Pair's Outlook
Pair is appreciating for the second day after hitting Fibonacci (23.6% of move since 5th of September) at 0.8249. It seems that this rally might continue even further up to monthly and weekly pivots at 0.8326/33 with slight break at major (psychological) level at 0.8300.
Traders' Sentiment
NZD remains the most sold major currency across the board almost for the whole week—in 73% of all cases . As a result, 73% (-1% since yesterday) of traders continue to hold short positions on the pair and 63% (+10% since yesterday) of all pending orders on the pair are to sell.
© Dukascopy Bank SA