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- OM Financial (based on TVNZ)
Pair's Outlook
Pair continues to demonstrate lack of bullishness as for the past few weeks it has not advanced above 0.835. However, at the same time it is supported by the 20-day SMA and, as we saw a few days ago, weekly S1. Pairs downside risk would significantly increase only if it would dip below 0.815, until that we could pretty safely assume some neutrality on the pair. The pair could advance above 0.867, but we don't see it moving above September high at 0.844.
Traders' Sentiment
It seems that bulls are charging for an attack as the share of positions they hold in the market increased by 3% and is at 31% gauge today. In addition to this, bullish side of pending orders increased by 6% and is at 68% gauge today.
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