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– Chris Weston, IG Markets (based on New Zealand Herald)
Pair's Outlook
During the first half of Friday's trading session the Kiwi remained between the two levels of significance, between which it had bounced for the whole week, against the US Dollar. During the middle part of the day the currency exchange rate was on its way to the weekly PP, which is located at 0.7249. If the previous situation will persist, then the New Zealand Dollar is likely to rebound against the US Dollar at the just mentioned level of support. In the meantime, the longer term forecasts still indicate at a fall of the Kiwi against the Buck.
Traders' Sentiment
Largely bearish sentiment remains in force, as 72% of open positions are short. In addition, 55% of trader set up orders are to sell the Kiwi.
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