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- Bank of America Corp. (based on Bloomberg)
Pair's Outlook
Yet again NZD/USD is attempting to breach the up-trend resistance line, which has been already violated once on Feb 26 but nonetheless preserves topicality in forming the price chart. As soon as it gives in, the pair will encounter 0.8459/52, the last obstacle on the way towards 0.8483/76—an area of supply that has been denying pair's access to higher levels for the last five months.
Traders' Sentiment
The gap between the long and short positions has widened to 48%, as more and more traders see NZD/USD topping out, i.e. subject to a soon fall. The tendency in the pending orders is different, there the share of sell orders (61%) is dropping, but nevertheless is significantly larger than the percentage of buy orders (39%).
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