© Dukascopy Bank SA
"We were picking this as the bottom for China and it beat our expectations, which is comforting for the medium-term view. […] We'll be buying the kiwi on dips up to 83.50 US cents."
- Westpac (based on TVNZ)Pair's Outlook
Pairs recovery was interrupted by resistance levels at 0.8209. However, technical indicators and expectations of major market participants allow us to believe this is just a temporary setback and pairs advancement further, closer to 0.83 mark to be specific, is very likely in the medium term.
Traders' Sentiment
Clear majority of traders, 65%, continue to hold short positions on the pair. 60% share of pending sell orders suggest and even further strengthening of bearish sentiment in the market in the near future.
© Dukascopy Bank SA