© Dukascopy Bank SA
"It's another bit of supportive data flowing through to the mix, but it's all driven from the yen. We're seeing a lot more investment in commodity currencies off the back of the weakening yen - a lot from institutions and even private money in these high yielders."
- HiFX (based on TVNZ)
Pair's Outlook
Kiwi is appreciating further and at the moment is testing 0.854 which is the last obstacle before testing 0.86. Short and long term technicals suggest a further appreciation of the pair. On the opposite note, the Stochastic indicator in the short term and dynamics of market sentiment suggest that there should be some sort of bearish correction. However, it is unlikely it will turn in to something more than that.
Traders' Sentiment
Although the pair is continuing to appreciate 74% of market participants expect timely end of this rally as they are short on the pair. Bulls, however, are responsible for 57% of all pending orders on the pair.
© Dukascopy Bank SA