© Dukascopy Bank SA
- BNP Paribas (based on CNBC)
Pair's Outlook
The pair just started a rally we anticipated yesterday, but until the candle closes there is enough time for it to be negated by the bears. Nonetheless, the gains should persist until the resistance at 0.8161/49 is encountered. Kiwi's appreciation beyond this level is considered to be a low probability event, given that indicators favour a different course of events.
Traders' Sentiment
The stability of the long-short ratio we mentioned in the previous report has not been displayed since then. The portion of long positions jumped to 56%, leaving bears at a notable disadvantage. On average in the market the buck is bought in 62% and NZD in 42% of all the cases.
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