© Dukascopy Bank SA
"The US dollar strength is lingering following on from the better than expected data. The jobs data made everybody excited about the prospect that this recovery is on track. It's increased the possibility of a December start (to tapering)."
- Bancorp Treasury (based on The New Zealand Herald)
Pair's Outlook
Pair found initial support with the October low which could lead to moderate rally. If such scenario prevails the pair could peak to 0.8296. Advance above it would put monthly PP on the map. In case the pair dips below the October low once more it could be sold off to 0.8126.
Traders' Sentiment
Bears continue to dominate the market. They account for 70% of market participants. In addition to this, bearish side of pending orders increased by 9% and is at 63% gauge today.
© Dukascopy Bank SA