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- ANZ Bank New Zealand Ltd. (based on Bloomberg)
Pair's Outlook
The Tuesday trading have not surprised the market too much and the NZD/USD performed like expected. After a rebound from the descending flag support line at 0.761 on Monday, the cross flew higher to touch the 55– day SMA today. A slight step lower could likely happen toward the monthly PP at 0.776 before it goes higher in respect of the pattern.
Traders' Sentiment
The sentiment have not changed significantly from the last update. Yet, less traders are ready to buy the pair in a 50– pip range as only 18% of opened pending orders are long with 27% of 100-pip ones. Meanwhile, according to some indicators, the trading during the daily period will be rather quiet.
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