© Dukascopy Bank SA
- UBS (based on Bloomberg)
Pair's Outlook
Today has not been any different from the last couple of trading weeks with the Kiwi depreciating relative to the U.S. peer. The pair slid below the 0.85 mark for the first time since early June. We would suggest the traders to watch carefully the near term fluctuation. To our mind if the pair closes below the major level at 0.85 then we are likely to see the pair reaching the 0.84 level. However, if the pair manages to climb above the 0.85 mark before the close then consolidation or even a rebound might be expected.
Traders' Sentiment
For the first time in more than a half year the SWFX traders think that the Kiwi is oversold as 52% of them are bullish on the pair. In the meantime, the share of buy orders fell from 74% down to 68%.
© Dukascopy Bank SA