© Dukascopy Bank SA
- Westpac Banking Corp. (based on the New Zealand Herald)
Pair's Outlook
At the moment the Kiwi is trading around April and May lows; nonetheless, these levels are still rather high. For Kiwi's bulls current uptrend is a positive sign in short term and the next target level is at 100-day SMA and 2013 Q4 high. However, we do not expect this advance to continue for long, we see the 2103 Q4 high as a top for now. We do think that the pair's real value is closer to the major level at 0.84, last week's trading levels.
Traders' Sentiment
Market sentiment remains unchanged as bears continue to hold 60% of all of the open positions on the pair. Bullish side of pending orders, however, contracted by 8-11% and is at 25-33% gauge today pending on the range.
© Dukascopy Bank SA