© Dukascopy Bank SA
"We were picking this as the bottom for China and it beat our expectations, which is comforting for the medium-term view. […] We'll be buying the kiwi on dips up to 83.50 US cents."
- Westpac (based on TVNZ)
Pair's Outlook
Pairs recovery was interrupted by resistance levels at 0.8209. However, technical indicators and expectations of major market participants allow us to believe this is just a temporary setback and pairs advancement further, closer to 0.83 mark to be specific, is very likely in the medium term.
Traders' SentimentClear majority of traders, 65%, continue to hold short positions on the pair. 60% share of pending sell orders suggest and even further strengthening of bearish sentiment in the market in the near future.
© Dukascopy Bank SA