© Dukascopy Bank SA
"There's quite a good chance the rate track will further flat line or go downward sloping in contrast to upward sloping which is indicative of a tightening bias. If Wheeler puts markets on notice, that would see the currency fall - anything short of that would be a non-event."
- Bank of New Zealand (based on TVNZ)
Pair's Outlook
After a commendable rally pair slowed down today, and hovers at around 0.8247. Main concerns around the pair are that quite a few technical indicators give neutral outlook as it approaches a recent high at 0.826 and autumn high at 0.830 and it seems plausible we might see something similar to a 150 dip that took place in 7th and 8th of November.
Traders' Sentiment
Attitude of market participants towards kiwi became more positive, but significant share of market participants (70%) are bearish. In addition, 61% of posted orders are to go short suggesting a further domination of bears in the market.
© Dukascopy Bank SA