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- BK Asset Management (based on MarketWatch)
Pair's Outlook
The kiwi continues to defy the existing resistances and is preserving the bullish tendency it commenced on Sep 1. Nevertheless, the pair is still within the zone that implies considerable downward pressure, meaning the downside risks persist. Should NZD/USD violate 0.82, on the other hand, then there will be a good reason to suspect the monthly R2 at 0.8310 is not safe anymore.
Traders' Sentiment
The bears are strengthening their positions, now they constitute 61% of the market (60% yesterday), slowly crowding out the bulls, who were right to bet on the New Zealand's appreciation at the very beginning of September. Concerning the pending orders, 62% are the buy ones.
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