NZD/USD slides lower again

The cross continues to compete with the heavy resistance at 0.749, where the 38.20% Fibonacci and the May 2012 low levels are situated. The pair has been trading within the range between the November 2011 low at 0.733 and the area mentioned previously since 3 February. The 55– 100– and 200– day SMAs are pointing to the south and the daily sentiment remains bearish.

The sentiment from the pair's traders remains to be bearish since 62% of all hold the short positions. As a matter of fact, the market added some pending orders and the 50– pip ones are bullish for 53% of the case. Meanwhile, the 100– pip orders are placed to be bought by 55% of all traders.