© Dukascopy Bank SA
- Veda New Zealand (based on the New Zealand Herald)
Pair's Outlook
The New Zealand's Kiwi continues to fall lower and lower relative to the buck, as the pair has dropped below the major level at 0.81 and it is trading around the weekly S1 at 0.8073 that is located just 10 pips from this year's low. Unnoticeably, 2014 low at 0.8052 has become the next target for the pair's bears and the possible bottom for the pair's bulls. The short term technicals are to the down-side, thus increasing the likelihood of a bearish scenario.
Traders' Sentiment
The bullish sentiment is starting to disappear, as it has slipped 2% since yesterday reaching 55% mark. At the meantime, the amount of pending orders set to buy has also decreased to 55%.
© Dukascopy Bank SA