© Dukascopy Bank SA
"You're not too far from the point that you start thinking about the day of reckoning with the debt ceiling, and we're also starting to go into a black hole period in terms of U.S. data. There's the potential for a scramble for U.S. dollars."
- Westpac Banking Corp. (based on Bloomberg)
Pair's Outlook
Failure at 0.829 caused the pair to dip by 100 pips. It recovered some of these losses after bouncing from 0.819 and it seems that the pair could be bound between these levels in the nearest future. Such scenario is given by the technical indicators as well. In case up an unexpected rally, main focus should be put on 0.837 which caused the pair to be sold few weeks ago. 0.812 should be main target in case of a sell off.
Traders' Sentiment
Market sentiment remains strongly bearish. Currently 72% of all traders expect depreciation of the kiwi against the greenback. Majority of pending orders, however, are in favour of the bulls - 62% of traders intend to go long on the pair.
© Dukascopy Bank SA