© Dukascopy Bank SA
"A bump in commodity prices -- commodities go up, commodity currencies go up. The retail data was pretty good, all things considered, and the industrial production number"
- John Doyle, Tempus Consulting (based on Bloomberg)
Pair's Outlook
200 day SMA gave enough boost for the pair to breach Fibonacci retracement levels at 0.8074/83. At the moment there is no clear signs that Kiwi should experience any difficulties to advance to 0.8138 by the end of this trading week.
Traders' Sentiment
Current market sentiment changed in slight favor for the bulls today and is at 52% mark. Allocation of pending orders show slightly different view as in the range of 100 pips from the current market price 58% of traders have posted sell orders.
© Dukascopy Bank SA