© Dukascopy Bank SA
- ANZ Bank New Zealand (based on the New Zealand Herald)
Pair's Outlook
Once again the Kiwi has been a strong performer this week, the pair was just 7 pips away from the pair's record high at 0.8845 on Thursday. Nonetheless, it will be a very hard challenge for the Kiwi to breach the all-time high; moreover, if the pair does it most likely will not appreciate significantly higher. The technical levels are neutral, pointing a finger at the pair's lack of movement during the last couple of days. Regardless of Kiwi's short term movement in the mid to longer term we are bearish.
Traders' Sentiment
After a brief dip (down to 71%) the percentage of short positions returned to its more familiar level—73%, meaning the sentiment is likely to stay bearish for some time.
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