NZD/USD questions resilience of 0.8127/05

Depreciation of the New Zealand Dollar revs up, as none of the nearby supports seem to be sufficient to nullify the downward momentum. If the barricades at 0.8127/05, created by the 2012 lows, 200-day SMA, monthly S1 and the down-trend line, fails to stay intact, the price could fall much lower, potentially down to the major up-trend and the monthly S3 at 0.79.

At the moment a lot less people (61%) consider NZD/USD as overbought than five days ago, when as many as 73% of positions were short. Still, the sentiment is moderately bearish. As for the orders, the current difference between the buy (45%) and sell (55%) ones is insignificant.