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- Finance Minister Bill English (based on stuff.co.nz)
Pair's Outlook
There has not been much change since the last time of writing, NZD/USD is trading slightly above the 0.78 level and the weekly PP at 0.7789. The shorter term technical studies are to the downside, while the monthly ones are bullish. The bearish risks have not disappeared, if the pair slides below the weekly PP then a test of this year's low at 0.7709 is possible. However, we expect that the previously mentioned supports will hold for now.
Traders' Sentiment
The sentiment with respect to NZD/USD stays distinctly bullish—73% of all open position are long, though five days ago they took up 71% of the market. At the same time the gap between the buy (55%) and sell (45%) orders is widening.
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