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- Rabobank International (based on Bloomberg)
Pair's Outlook
The New Zealand's currency is searching for a sustainable support level and possibly it has found it at the 0.79 mark. Although, the pair has to confirm it by closing above this level for a second straight day. In case it fails to do so, then we can see drawback towards the weekly PP at 0.7845. To gain even further the Kiwi will a have to break the psychological level at 0.80 eventually and we consider that as the biggest challenge.
Traders' Sentiment
The traders' sentiment has not changed since yesterday, as exactly the same amount of market participants share the bullish and bearish outlook. Concerning the orders placed 100 pips from the spot, the amount of buy orders increased to 55%.
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