© Dukascopy Bank SA
"After the employment data last week, nothing is going to look positive enough. There's further downside for the kiwi."
- ANZ New Zealand (based on The National Business Review)
Pair's Outlook
Pair is preparing for a major rally as we saw a 40 pip move after a push from 100-day SMA. However, nearest obstacle at 0.8193/99 might be rather significant as there is a high probability that majority of pending sell orders are exactly at those levels suggesting that pairs rally might be not flawless.
Traders' Sentiment
Whole last week no less than 70% of traders have been bearish on the pair; new week is starting not differently—75% of all open positions in the market are short. 61% of all pending orders on the pair are to go short as well so we are not likely to see any changes in market moods in the near future.
© Dukascopy Bank SA