© Dukascopy Bank SA
"There's a lot to be excited about for the kiwi - 83.50 US cents is a very key level, but it will be attractive with momentum looking very strong in the kiwi."
- Westpac Banking (based on TVNZ)
Pair's Outlook
Pair continues its rally as it managed to climb additional 30 pips today and at the moment it is testing Bollinger band and, what is more important, 9 month high, at 0.8352/55. Although technical indicators send strong bullish signals, the Stochastic indicator suggest pair might lack some power to set new high yet and bearish correction would be in order.Traders' Sentiment
The same as last week, traders continue to have strongly bearish attitude towards the kiwi as 72% of outstanding positions on the pair are short. Not much should change in the nearest future as pending orders are almost equally distributed between bears and bulls.
© Dukascopy Bank SA