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Pair's Outlook
On Monday the Kiwi suffered a 56-pip loss against the US Dollar, ignoring the immediate support and settling slightly below the 0.65 level. There are no signs that could set a positive outlook towards NZD/USD currency pair, hence, another decline is expected today. The nearest support is represented by the monthly S1 and the weekly S2, but a deeper fall should be limited by the cluster around 0.6410. A breach of this final support is expected to cause a sell-off, ultimately leading the NZ Dollar towards the Sep low of 0.6234.
Traders' Sentiment
Bulls and bears remain unchanged, taking up 55% and 45% of the market, respectively. The gap between buy and sell orders narrowed, with bears outnumbering the bull by only 2% points.
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