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"The kiwi fell this morning because there are a few more questions in the market about where Europe is at - that will see risk off. This week is all about growth figures with gross domestic product and consumer price indexes out around the world."
-HiFX (based on New Zealand Herald)
Pair's Outlook
It is highly likely that in the near future we will see pair forming a double top pattern with the upper limit at 0.8190 level. However, it is highly unlikely that the pair will manage to breach this level and we should see a drop to 0.8000 after this.
Traders' Sentiment
The SWFX market sentiment is almost equally divide between long and short traders in the market at the moment, however, trade orders in the range of 100 pips from the current price show that we might see a shift of scales to the favour of short seller in the near future.
© Dukascopy Bank SA