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– Jamie Saettele (based on Daily FX)
Pair's Outlook
The Kiwi fell on Monday against the US Dollar, as it started the week with a session opening a lot lower than the previous close. The currency exchange rate bean Monday's trading session at 0.7255, which is below the weekly PP at 0.7256. Due to the lower opening, the currency pair has no support levels below it until the level of 0.7191, where the 20-day SMA is located at. The simple moving average is also supported by the first weekly S1 at 0.7188, which indicates that the rate would stop there in this slight divergence from the general surge.
Traders' Sentiment
SWFX traders remain short on the pair, as 62% of open positions are bearish on Monday, which is exactly just like on Friday. In the meantime, pending commands are 60% long.
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