© Dukascopy Bank SA
- RBC Capital Markets LLC (based on Bloomberg)
Pair's Outlook
The New Zealand's currency prolonged its advance, that started yesterday, as the currency tested the 0.85 level. It is too early to say whether the Kiwi is ready to trade above the 0.85 mark again; although, we should see that soon. In case the pair breaches the major level and 200-day SMA at 0.8507 then the 0.8550 level might be reached in the near term. The shorter term technicals however are to the downside, suggesting that in the next trading sessions we are not likely to see the pair considerably higher.
Traders' Sentiment
Share of bulls in the market remained around the levels we are seeing for the past week, namely at 56%. Meanwhile, the share of buy orders grew from 67% up to 72%.
© Dukascopy Bank SA