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- Cameron Bargie, Chief Economist, National Bank of New Zealand (basedon NZ Herald)
Pair's Outlook
After an almost flat trade yesterday, the pair has slightly augmented today despite a neutral outlook based on aggregate technical indicators. The weekly outlook of the pair is negative with RSI (14) moving closer towards the overbought area of 70. In the bearish case, we are likely to see the 20-day MA at 0.80055 as the first target for NZD/USD.
Traders' Sentiment
As the weekly forecast of the pair stands at 0.8035 since Monday, the bears are activating on the market with 60% of traders expecting pair's slide before the end of trading week. However, yet 40% of market participants forecast that NZD/USD will continue its long-term rally.
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