© Dukascopy Bank SA
"Both the Aussie and kiwi should probably pick up a little bit in the London market this afternoon, and if we get a good dairy auction tonight it might help the kiwi along."
-Commonwealth Bank (based on TVNZ)
Pair's Outlook
Kiwi is continuing to lose ground against greenback after forming a Double Top pattern, but as pairs outlook remains positive in the medium term it is likely that Bollinger band and monthly pivot at 0.7928/31 will provide enough push for at least a temporary recovery of the pair.
Traders' Sentiment
Trader sentiment was deviating not far from 50% (+/-2%) gauge for three weeks, but became clearly bullish today as 59% of traders hold long positions on the pair. However, share of pending sell orders has not changed since yesterday and remains at 64% mark..
© Dukascopy Bank SA