© Dukascopy Bank SA
"Today's it's been the Asian markets opening with a positive tone that's given the New Zealand dollar a boost. There's not a lot of good news out there - it's a bit of positioning helping lift the kiwi."
- HiFX (based on TVNZ)Pair's Outlook
Pair seems to be range (0.8249-0.8161) bound for almost a week now. Further containment in this area is very likely as vast number of indicators give neutral signals. However, as quite a lot of pressure on the pair seems to be coming from 0.8249 area, drop to 0.8178 or 0.8161 is highly likely in the near future.
Traders' Sentiment
Bearish sentiment on the pair remains strong and hovers slightly above 70% mark for the fourth consecutive day. Distribution of pending orders predict further strengthening in such sentiment as 60% of pending orders on the pair are to sell.
© Dukascopy Bank SA