© Dukascopy Bank SA
"It's a good mix of the retail sector performing reasonably well, but with not a lot of inflationary pressure to knock it. When the US dollar is firm then the kiwi is likely to not get quite as buoyant as it was a few weeks ago."
- Commonwealth Bank (based on TVNZ)
Pair's Outlook
After a second consecutive failed attempt to push the pair above 0.83 it has dropped by 90 pips and at the moment seems to be targeting monthly S2. Recent events suggest that pair might ease up a bit, especially taking in to account that around 0.815 we have 2013 low. However, overall bearish trend should remain.
Traders' Sentiment
Similarly to the aussie, the kiwi bulls strengthened their positions significantly. However, they still remain underrepresented as only 1 out of 3 traders are long on the pair. Pending orders does not suggest that bulls could continue doing so further as only 38% belong to them.
© Dukascopy Bank SA