NZD/USD is reluctant to probe 0.8265/61

After a decline from 0.8491/76 there is still some distance between the spot price and the major up-trend support at 0.8265/61. Consequently, we could expect extension of the dip, although bullish technical studies and presence of a cluster of supports at 0.8327/04 imply a different behaviour of the pair. In the long-term we await formation of an ascending triangle pattern with a subsequent break out from 0.8491/76.

At the moment only 28% of the SWFX marketplace participants are anticipating a rally in NZD/USD. Accordingly, a vast majority (72%) of them deem a fall of the price to be a more probable event. Concerning orders placed on the pair, there is almost no difference between the amounts of buy (49%) and sell (51%) orders.