© Dukascopy Bank SA
"The government's approach has been validated by today's result. It reflects a more resilient economy where government, households and business have patiently adapted to changing conditions."
- NZ Finance Minister (based on The New Zealand Herald)
Pair's Outlook
Pair started the week in a rather calm manner and remains in the vicinity of 0.83. We expect the pair to inch up higher in the course of next week and we are looking at 0.838. If the pair advances above it the next obstacle would be September high at 0.844. However, we don't see the pair advancing above it easily. In case the pair dips below 0.83 it should find support with the 0.821, as it did last week.
Traders' Sentiment
Bears strengthened their presence in the market even further. At the moment they hold 73% of all open positions n the market. That is a 3% increase during the weekend. However, we can see an increase in the bullish side of pending orders. It is at 70% gauge today (+2% during the weekend).
© Dukascopy Bank SA