NZD/USD stalled near 0.8343

NZD/USD failed to get a foothold above 0.8343 and retreated. The next few sessions are anticipated to be more or less calm, as daily and weekly indicators largely give contrary signals. In the longer time perspective, however, the kiwi promises to remain bullish and move along the bullish support line that connects minima since the mid-June.

Short traders have improved their positions even more and currently constitute an absolute majority—73% of the market. Consequently, kiwi-bulls take up merely 27% of the total amount of market participants. On a related note, distribution between buy and sell orders is 41% to 59%, respectively.