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Pair's Outlook
The New Zealand Dollar depreciated against the US Dollar by mid Friday below the level of 0.7370, where the last notable support level is located at before the 0.73 mark. Previously, the currency exchange rate was struggling for two sessions to break the resistance put up by the 50.00% Fibonacci retracement at 0.7468. However, the Kiwi failed to book more gains against the Greenback in the second half of Thursday's session, and due to that the rate is searching for a support to continue its surge in accordance with the channel up pattern.
Traders' Sentiment
Traders remain largely bearish on the pair, as 72% of open positions are short. In the meantime, pending orders are almost neutral, as of pending commands are 51% to buy.
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