© Dukascopy Bank SA
"Some people think he was 50/50, but the market took it as more hawkish."
- ASB Institutional (based on TVNZ)
Pair's Outlook
After receiving a bearish impetus from Bollinger band/100 bar SMA at 0.8110 pair has advanced a bit more than 120 pips in past few days. With such pace pair is rapidly approaching oversold condition (if it is not there yet) and, as technical indicators points out, we should see at least a bearish correction in the near future.
Traders' Sentiment
Amount of short traders increased by 9% since yesterday and hold overwhelming, 75%, majority in the market at the moment. Share of pending sell orders increased as well. At the moment it is at 68% mark suggesting a domination of bears in the market in foreseeable future.
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