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    NZD/USD remains under pressure

    © Dukascopy Bank SA
    "As long as the Chinese growth anxieties are there, the Fed will have to find some other remedy for their itching to raise the interest rate." - AvaTrade (based on Reuters) 

    Pair's Outlook 
    The New Zealand Dollar declined against the Buck, but more than anticipated, amid poor business confidence figures yesterday. Right now the NZD/USD pair trading around the lower Bollinger band with risks of edging even lower, as the weekly and monthly PPs are providing rather strong resistance at 0.6380. If the 0.63 major level is crossed to the downside, the NZ Dollar could extend its decline towards the July 2009 low at 0.6195; however, a break through the earlier mentioned resistance cluster might cause the Kiwi to regain the bullish momentum and crawl out of the pit. 

    Traders' Sentiment 
    Exactly three quarters of all positions are short today, while 54% of all commands are to sell the Kiwi (previously 50%).
    © Dukascopy Bank SA

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