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- Matt Derr at Credit Suisse Group AG. (based on Bloomberg)
Pair's Outlook
The USD failed to upbeat the NZD in its value recently and the pair continued its upward move during the whole week. Today, it moved higher for additional 28 pips from the last day close. However, Friday was quite volatile since the trades were fluctuating between the daily low at 0.778 and high at 0.785. Eventually, bulls ruled the market and let the cross to move higher, away from the 55– day SMA and weekly R1 at 0.779.
Traders' Sentiment
Half of the market participants see the NZD/USD to the up. 44% of all 50– pip pending orders are placed long. The 100– pip ones are awaited by 43% of traders on the market.
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