© Dukascopy Bank SA
- Bank of New Zealand (based on The New Zealand Herald)
Pair's Outlook
Pair took a step and eventually failed ahead of 2014 high forming February high. We expect to see some bullishness around weekly R1, but 20, 55 and 100-day SMA is expected to be tested in the medium to long term. Dip below it could provoke strong bearish action and send the pair till 81 cents, where median expected price for this quarter of major market participants is located. Further appreciation seems highly unlikely at the moment.
Traders' Sentiment
Market sentiment once again changed marginally. It decreased by 2%, till 27%, since yesterday. However, volatility in distribution of pending orders persists. Bullish side of it decreased by 8%, till 42%, in 50 pip range, but increased by 30%, till 50%, in 100 pip range.
© Dukascopy Bank SA