© Dukascopy Bank SA
"Currency markets are suffering somewhat from subdued volumes and a lack of conviction as investors look ahead to Wednesday morning's FOMC decision."
- Bank of New Zealand (based on TVNZ)
Pair's Outlook
After minor setback last few days pair safely advanced above 0.8355—the highest level in 9 months. It seems that pairs rally is becoming very spontaneous and at some point it should return at least to the boundaries of Bollinger band. Such probability is supported by Stochastic indicator which is deeply in overbought area, however, we should still wait for %K and %D to cross.Traders' Sentiment
Traders continue perceiving kiwi as the weaker currency in the pair and as a consequence 72% of traders hold short positions on the pair. As for pending orders, rather unexpectedly they are equally distributed between long and short traders.
© Dukascopy Bank SA