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"Dairy-related influences have a habit of impacting the New Zealand dollar. You look at the wider implications in the decline in the payout, and that has a noticeable impact on the economy."
- Nick Bennenbroek, Wells Fargo & Co. (based on Bloomberg)
Pair's Outlook
Pair continues depreciate and breaches Double Top pattern's support level at 0.8037. Pairs outlook is mildly positive, more and more indicators start giving buy signals so it is highly likely we will see a push upwards from cluster of support levels around 80 cent mark.
Traders' Sentiment
Trader sentiment is deviating not far from 50% (+/-2%) gauge for the second week already. However, number of pending sell orders increased to 60% increasing the possibility that the sentiment might shift significantly in favor for the bears in the near future..
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