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- Saxo Bank (based on Bloomberg)
Pair's Outlook
On Thursday, the Kiwi's volatility stretched beyond the up-trend, but price still managed to settle above the trend-line. Despite climbing over the 55-day SMA at 0.6668 today, the NZD/USD currency pair made a U-turn after the overwhelmingly high US Payrolls data was released. As a result, the up-trend was violated, while the NZ Dollar now faces the 100-day SMA around 0.6581, which is also bolstered by the Bollinger band. However, technical studies remain mixed, implying the exchange rate might remain relatively flat by day's end.
Traders' Sentiment
Bullish traders' sentiment returned to its Wednesday's level of 72% (previously 75%), while the number of purchase orders added an extra 10% points. The commands now take up 67% of the market.
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