© Dukascopy Bank SA
- BK Asset Management (based on Bloomberg)
Pair's Outlook
After reaching the 0.83 level at the beginning of the week the pair has gained a bullish momentum and it approached the 0.84 level today. However, for now the Kiwi was not ready to break the previously mentioned resistance level. To our mind, we might see a period of consolidation with the top around the 0.84 level and the bottom around the 0.83 mark. The weekly technical studies are neutral, thus supporting the possibility of the sideways trend.
Traders' Sentiment
The sentiment remains more or less unchanged at 62%; moreover, it has been in the range from 60%-63% for the last seven trading days. The gap between the buy (63%) and sell (37%) orders placed 100 pips from the spot is very similar to the market sentiment.
© Dukascopy Bank SA