© Dukascopy Bank SA
- Bank of New Zealand( based on Bloomberg)
Pair's Outlook
The price has forcefully dented into a resistance zone at 1.0560/34, but is anticipated to have a hard time getting any further, since a nine-month high is situated nearby—at 1.0624. On the other hand, weekly and monthly technical indicators point to the upside and give a more optimistic outlook on the pair, even though median forecasts are beneath the spot price at the moment.
Traders' Sentiment
The portion of short positions has declined since yesterday (71%), but remains substantially greater than the share of long positions (29%), meaning that the pair stays oversold. Concerning orders, there is virtually no difference between the amounts of buy (53%)and sell (47%) orders.
© Dukascopy Bank SA