© Dukascopy Bank SA
"The number was outside of the range but... is not as bad as 2009-2010, [though the] market was unprepared for it and dropped the Kiwi down to the first level of support."
- Alex Sinton, ANZ (based on WSJ)
Pair's Outlook
Today pair is caught between 0.8098 and 0.8148 and can't successfully breach any of these levels. It is likely that such situation will remain till the start of new trading week unless USD trade balance data will have effect on the development on the pair. In longer time horizon it is likely that the pair will continue to devalue and drop to SMA200 level around 0.8023.
Traders' SentimentCurrently, number of short traders slightly outweighs long traders, but in the range of 100 and 200 pips from current price, two thirds of traders have posted sell orders demonstrating the potentiality that such balance could change very rapidly.
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