© Dukascopy Bank SA
"People are more comfortable trading the Australian domestic story with the event risk from China and Crimea backing away a little bit."
- ANZ Bank New Zealand (based on the New Zealand Herald)
Pair's Outlook
Once again the Kiwi has started the week well as it has advanced against the greenback and reached new 2014 high today. It breached a major resistance level at 0.8600 and weekly R1 at 0.8614; however, we expect that pair will lose its bullish momentum. It has a very important and strong resistance levels ahead - monthly R2 and 2013 high at 0.8658/75 and it is unlikely that both of them could be broken.
Traders' Sentiment
In the past couple of weeks the sentiment among SWFX market participants has remained basically the same with 27% - 30% of them being bullish. The gap between the bearish and bullish orders placed has widened as 72% of commands are to sell.
© Dukascopy Bank SA