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"The kiwi will look at testing 81.65 US cents, which is the next big level."
- Westpac Banking (based on The New Zealand herald)
Pair's Outlook
As anticipated 55-day SMA managed to kick pair higher as it is undergoing a bullish correction today and at the moment is hovering above monthly PP at 0.8218. However, bearish trend should resume shortly with Bollinger band being the highest limit pair might manage to advance to.
Traders' Sentiment
Expectations of depreciation of the pair remain very strong as some additional traders have joined the ranks of bears and at the moment they constitute for 74% of all market participants. However, share of pending long orders is significant as they account for 60% of all pending orders.
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