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- Raymond James' Brown (based on Bloomberg)
Pair's Outlook
The NZD/USD retreated from the weekly S1 at 0.732 and fell about 82 pip lower. With that, the pair enters the oversold level on the RSI. The 55– 100– and 200– day SMA's are sliding lower. The next support level will be found at 0.719, the weekly S2. On the upside, the weekly S1 at 0.732 is quite reasonable. The pair has been depreciating for the third consecutive week.
Traders' Sentiment
The market lost quite a reasonable amount of buyers as 63% of all ar selling now. Meanwhile, 100% of traders are holding their 50– pip and 100– pip pending orders short.
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