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- Alan Ruskin, Deutsche Bank AG (based on Bloomberg)
Pair's Outlook
For the time being a formidable support line at 0.7730 is keeping the New Zealand Dollar buoyant. Accordingly, we might see some pressure being exerted on the nearest resistances, namely 0.7855/43 and 0.7941, but higher levels are highly unlikely to be seen in the nearest future, considering that the outlook on the currency pair remains negative.
Traders' Sentiment
The share of proponents of the stronger kiwi lost only one percentage point to those who believe otherwise, meaning that the former stay a dominant power, having 60% of the market. Meanwhile, the sell orders placed on NZD/USD amount to 60%, leaving the buy ones in a minority with 40%.
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