© Dukascopy Bank SA
- Barclays Plc (based on Bloomberg)
Pair's Outlook
Already starting from the previous Friday the pair is on a healthy recovery from the Wednesday‘s drop that sent the pair below the 0.79 mark. At the moment, the pair could appreciate even higher, as it has received a solid portion of bullishness. The technical indicators seem somewhat confused for now as all of them point to different directions. The next key level is at 0.80, which has been a strong resistance for a long time and it remains unbroken since September.
Traders' Sentiment
There is no strong conviction in the market that the Kiwi is overvalued or undervalued, being that the amount of bullish and bearish traders are identical. The distribution between the buy and sell orders is more significant—29% and 71% respectively.
© Dukascopy Bank SA