© Dukascopy Bank SA
"We think it's time that the government did its bit. The single monetary policy goal of targeting inflation alone, while relevant in the 1980s when inflation was out of control is now passed, in our view, its used-by date."
- CWF Hamilton (based on Business Day)
Pair's Outlook
After being range bound for 3 trading weeks pair receiver a bearish impetus from 0.835 and for the second time today is testing the strength of monthly pivot PP at 0.8304. With such determination of the bears pair might dip to 100-day SMA at 0.825, but medium term outlook points at appreciation of the pair.
Traders' Sentiment
Similarly to other pacific currency, the aussie, the kiwi bulls gained some ground in the market, but overall sentiment remains strongly bearish—71% of traders are short on the pair. It does not seem we see much of a change any time soon as pending orders are almost equally distributed between the bears and the bulls.
© Dukascopy Bank SA