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- Amos Hochstein at US State Department (based on Bloomberg)
Pair's Outlook
The NZD/USD pair shot higher in earlier Monday sessions but lost 33 pip during the day. Currently the cross is trading below the 55– day SMA which is at the same level as the weekly PP at 0.779, respectively. Despite the bearish move, the NZD/USD failed to break the monthly PP and the 20– day SMA at 0.777 level.
Traders' Sentiment
The market have not changed the amount of participants since the last update and 37% of them are holding long. 38% of traders placed their 50– pip pending orders to buy, whereas the 100– pip ones are half long half short.
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