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- Matt Derr at Credit Suisse Group AG. (based on Bloomberg)
Pair's Outlook
The NZD/USD pair cut some previous gains and tumbled today from 0.786 to 0.773. Later today, the New Zealand Dollar managed to appreciate a little versus its counterpart and the cross grew a little to trade at the weekly and monthly PP at 0.776. Looking at the weekly chart, both 55– and 100– SMA's are pointing to the south, while the only 200– day SMA is going up.
Traders' Sentiment
Less traders became certain on whether the NZD/USD will move higher. Respectively, 46% versus the 54% are long on the pair and the market lost 8% of opened positions.
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