© Dukascopy Bank SA
"The anticipation of pending rate rises, whether it comes in January or March, is adding to the strength of the kiwi dollar."
- OMF (based on The New Zealand herald)
Pair's Outlook
Pair took a step back after a major rally on Friday and seems to be struggling with 83 cent mark today. We expect such situation to continue some time more. In order to ignite a rally the pair should show a solid close above the 0.8333/49. Short term dips are possible, but it seems highly doubtful it could fall below the 0.815.
Traders' Sentiment
We are once again seeing a major shift in distribution of pending order. 62% to 90% of pending orders, depending on the range around the market price were bearish on Friday. It is from 40% to 45% today, but open positions hold at 25% (bullish).
© Dukascopy Bank SA