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Pair's Outlook
Last week the pair reached a new 2014 high at 0.8779; however, after approaching this level the pair started to fall and by week's end it slipped beneath the monthly PP at 0.8622. At the moment the pair is trading around the monthly PP and 20-day SMA, these support levels should protect the pair from weakening lower. Also the majority of the technical levels are bullish; therefore, the Kiwi might appreciate towards the weekly PP at 0.8669.
Traders' Sentiment
An overwhelming majority of the SWFX market participants consider the Kiwi to be overvalued relative to the greenback. Right now 71% of traders are short the Kiwi, while merely 29% of them believe the currency is going to advance in price even more.
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