© Dukascopy Bank SA
"The Kiwi seems very well-supported at the moment I think there is certainly very real risk it could go higher."
- HiFX (based on Radio New Zealand)
Pair's Outlook
October high failed the pair and send it breaching through the September high. At the moment it is testing the strength of the support of weekly S1/20-day SMA. If the pair dips below it, it could trail to 200-day SMA. In order to negate this bearishness the pair should advance above the October high.
Traders' Sentiment
Share of the bears in the market decreased by 5%, but they continue to hold overwhelming, 70%, majority of all open positions on the pair. In addition to this, bullish side of pending orders increased by 11% and is at 77% gauge.
© Dukascopy Bank SA