NZD/USD challenges resistance at 0.8003

NZD/USD is behaving dangerously for the bears near the down-trend resistance line that was meant to curb kiwi's strength. Willingness of the market to leave the vicinity of the major support line at 0.7740/16 is understandable, although we are still anticipating more trading around the current levels before the pair's direction is reversed and growth in the long run is assured.

While the price is moving in accordance with the expectations of the majority, there are less supporters of continuation of the tendency, being that bulls now take up 54% of the market, there were 59% of them yesterday. Another negative sign could be a large amount (66%) of sell orders placed on NZD/USD.