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- Societe Generale. (based on Bloomberg)
Pair's Outlook
The NZD/USD tumbled even further, letting the NZD to depreciate versus its counterpart for about 73 pips. During the day, the pair fluctuated 144 pips, forming a daily high at 0.771 level, higher than the weekly S1 at 0.769, whereas the daily low lays at 0.756. In addition to that, the cross dived below the Bollinger band at 0.762. However, the pair is still trading in a neutral RSI range.
Traders' Sentiment
More traders entered the bullish side of the market as 51% are currently long. 57% of the 50– pip pending orders are set to be long and the 100– pip ones are largely bullish, 78%.
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