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Pair's Outlook
The New Zealand Dollar suffered losses against the Greenback by mid-Monday, as the currency exchange rate moved lower to trade below the 0.7150 level after opening the day's trading session at 0.7184. Previously, the currency exchange rate remained almost unchanged during Friday's trading session. However, the pair experienced high volatility and moved lower to confirm the lower trend line of the long term ascending channel at 0.7110. It is possible that the currency exchange rate confirms the trend line once more. Although, the short term outlook is more likely set to be dictated by various levels of significance.
Traders' Sentiment
SWFX traders remain bearish with 54% short positions. Meanwhile set up orders are 52% to sell.
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