© Dukascopy Bank AS
"In reality QE3 is not a done deal. A lot of the strength of Asian currencies has been around QE3. […] Kiwi led the way lower overnight."
-Alex Sinton, ANZ New Zealand (based on Nez Zealand herald)
Pair's Outlook
Pair continues to depreciate after forming Double Top pattern and successfully breaching patterns resistance at 0.8037. However, Bollinger band and weekly pivot (S2) close to 0.80 should provide enough support, at least in the short term, and slow down the drop.
Traders' Sentiment
Trader sentiment is deviating not far from 50% (+/-2%) gauge for two weeks now. However, number of pending sell orders increased by additional 5% since yesterday and reached 65% mark.
© Dukascopy Bank AS