© Dukascopy Bank SA
"The New Zealand dollar will struggle over the next month or so if there's disappointment about QE."
-Dan Bell, HiFZ (based on TVNZ)
Pair's Outlook
Pair forms a second top for a double top pattern and is likely depreciate to pattern support at 80 cent mark. In the medium term pair is equally likely to breach the mentioned level as it is to bounce from it and form a triple top pattern.
Traders' Sentiment
Trader sentiment has been deviating around 50% for a week now (+/-2%) highlighting market uncertainty regarding the Kiwi as commodity prices tumble. However, 65% of traders posted sell orders on the pair in the range of 100 pips from the current market price awaiting depreciation of the pair
© Dukascopy Bank SA