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    NZD/USD inches down a little more

    © Dukascopy Bank SA
    "The various headwinds that are still restraining the economy, as I said, will likely take some time to fully abate, and the pace of that improvement is highly uncertain. We have no intention of embarking on a pre-set course of increases in the federal funds rate after the initial increase."
    - Janet Yellen, Fed's Chair (based on WBP Online) 


    Pair's Outlook 
    The NZ Dollar behaved in accordance with the forecast, as the given pair suffered substantial losses yesterday. The NZD/USD fell under the 0.73 level and found support around 0.7230. Technical indicators are now showing mixed signs, but we still expect more weakness. However, in the weekly timeframe a rebound is anticipated, meaning that the immediate support cluster might cause the Kiwi to bounce back, most likely at the end of the week.  

    Traders' Sentiment 
    Bulls keep prevailing over bears, as still 54% of traders have a positive outlook towards the Kiwi. At the same time, the number of orders to acquire the New Zealand Dollar added ten percentage points. The commands now account for 69% of the market.
    © Dukascopy Bank SA

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