NZD/USD encountered difficulties at 0.8317/12

For NZD/USD to reaffirm the intention to resume a recovery it needs to climb over 0.8317/12 first, then overcome 0.8479/62, the resistance ahead of which the currency pair made a U-turn last week. The weekly PP and monthly R2, however, are not willing to surrender without a fight and are not letting the rally initiated at 0.82 to continue.

On the whole the market does not expect the New Zealand Dollar to move north. Instead, 71% of traders reckon that NZD/USD has already reached its peak and the most likely path it is now going to take will lead to penetration of the support levels. Speaking of the pending orders, there are more traders who are planning to buy the kiwi than those who are willing to sell it against the greenback.