NZD/USD dives to new lows

The NZD/USD surprised the market today by diving to the new low in four years. Later the same day the bullish market participants succeeded with supporting the pair as it found a resilient level at the April 2010 high, 0.718. Meanwhile, the Alligator indicator and the daily SMA's are highly bearish with an oversold RSI.

The market stayed generally unchanged. About 35% of traders are holding long positions, while 36% of them placed the long 50– pip pending orders. The 100– pip ones changed only 1%, up from 29% previously. Meanwhile, some of the most accurate indicators are linking to sell the pair.