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"We're going to get another rate hike in the next two weeks, which is still attracting investors"
- ASB Institutional (based on the New Zealand Herald)
Pair's Outlook
NZD/USD has strengthened significantly today as it received some impetus from weekly PP and major level at 0.8600. However, the pair also was impacted by the informational shock (BOJ meeting), that together with previously mentioned support levels pushed the pair higher towards 0.87. We suspect that the pair might slightly extend its advance; nevertheless, we do not think that it will break resistance levels around 0.87.
Traders' Sentiment
The bullish sentiment among the SWFX market participants towards NZD/USD has increased slightly; however, it still is very low, at the moment of writing at 29%. The distribution between the buy and sell orders is also rather unstable—33% and 67% respectively.
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