© Dukascopy Bank SA
"They are trying to get interest rates lower and are willing to do almost anything to get them lower. We're not in a position where we need to do that. We've got growth, we've got employment growth."
-Bill English, NZ Finance Minister (based on The National Business Review)
Pair's Outlook
After few days, of what seemed a start of further appreciation of the pair it received a strong push all the way to 0.825 where it got stuck between Fibonacci (23.6% of move since 5th of September) at 0.8249 and weekly PP at 0.8339 where significant amount of buy orders stopped its further depreciation. Pairs outlook remains negative, however any of the levels below might kick of a bullish rally on the pair.
Traders' Sentiment
Bearish sentiment prevails as 75% (+2% since yesterday) of traders hold short positions on the pair. However, 70% (-5% since yesterday) of all posted orders on the pair are buy orders suggesting that pairs path downwards wont be smooth and we might see choppy session.
© Dukascopy Bank SA