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- Sergei Storchak, Russia's Deputy Finance Minister (based on MarketWatch)
Pair's Outlook
Even though technical indicators on all three relevant time frames were and still are univocally bullish, the rally did not reach far beyond 0.8476, topping out at 0.8533 and sharply falling subsequently. Thus we may conclude that the price will probably travel back to the bullish trend-line at 0.8358/32 and then once again make an attempt to re-test 0.8476 or even 0.8533.
Traders' Sentiment
According to the latest data, merely 25% of opened positions on NZD crosses are long, making it one of the least popular currencies in the SWFX market. The situation is the same with NZD/USD, where the ratio between longs and shorts is 25% to 75% accordingly, while the advantage of sell orders (62.5%) over buy orders (37.5%) is present, but not great.
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