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– based on economies.com
Pair's Outlook
The New Zealand Dollar was more volatile to the downside against the US Dollar on Monday. However, the Kiwi managed to remain almost unchanged against the Greenback on Monday, as the pair started the day's trading session at 0.7001 and ended the session at 0.6998. On Tuesday morning the 55-day SMA provided support for the pair and initiated a push north for the exchange rate. The rate has surged from 0.6997 at the start of Tuesday's trading to 0.7064 by 11:15 GMT.
Traders' Sentiment
SWFX traders continue to be bearish on the pair, as 73% of open positions are short on Tuesday. In the meantime, pending orders in the 100-pip range are 63% short.
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