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- ING (based on Reuters)
Pair's Outlook
Despite the bearish outlook NZD/USD has, it still aims for higher levels. Right now the currency pair is testing an area that consists of the weekly pivot point, 20-day SMA and, most importantly, the down-trend resistance line that has been keeping the bulls at bay for the past two months. Consequently, it would be reasonable to expect lower trading levels in the future.
Traders' Sentiment
Bullish towards NZD/USD views are getting more popular. Now 63% of traders are holding long positions on the pair, while 37% continue to oppose the general bias with respect to the instrument. The distribution between the buy and sell orders is 49% to 51% respectively.
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