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- Stifel Nicolaus& Co. (based on Bloomberg)
Pair's Outlook
The NZD/USD pair went higher during the earliest Monday sessions, but lost the bullish momentum after failing to surpass the monthly S2 level at 0.747 and depreciated towards the 2011 March low. The cross has continued to fall for the third consecutive week. Meanwhile, the daily low was at 0.740 at the time of writing.
Traders' Sentiment
The market has not changed the amount of participants and 51% of all have their NZD/USD pair trades long. Half of all traders are holding their 50– pip pending orders short and the 100– pip ones will trigger the buying for 47% of the case.
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