© Dukascopy Bank SA
- HSBC Securities Japan Ltd. (based on Bloomberg)
Pair's Outlook
Today we might see the pair advancing for fourth consecutive day if it does not loose its bullish steam in the upcoming hours. Also, the Kiwi is moving closer and closer to the 0.80 mark and most likely it will be approached this week. However, it is too early to predict how the pair will react when the level will be touched. Interestingly, daily and monthly technicals are bullish, that could give the long desired momentum for the pair to surpass the psychological level at 0.80.
Traders' Sentiment
There is no strong conviction in the market that the Kiwi is overvalued or undervalued, being that the amount of bullish and bearish traders are identical. The distribution between the buy and sell orders is much more significant—25% and 75% respectively.
© Dukascopy Bank SA