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"People are looking for a bit of yield around the world and all the data recently from New Zealand has been extremely positive and on a background of a weaker US dollar it is not surprising to see funds flow back into this part of the world."
- OM Financial (based on The New Zealand Herald)
Pair's Outlook
Pair seems to be heading towards almost identical (just bullish) session like yesterday as 0.83 keeps holding as a key support. 20-day SMA seems to be having the most impact on that. However, we don't see the pair advancing above the 0.838 as technical indicators give a rather neutral outlook. In case the pair unexpectedly dips below 0.83, the 0.822 or 0.816 should stop the pairs decline.
Traders' Sentiment
Bulls continue to dominate in the market. They account for 72% of market participants. In addition to this bearish side of pending orders decreased by 4% and is at 66% level.
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