NZD/USD approaches the 200-day SMA

Bullish sentiments flared up yesterday after the pair bounced to the lower Bollinger band at 0.8164 and they continue to lead the kiwi. Today the pair approaches the 200-day SMA at 0.8240, which contains one resistance level with the weekly PP at 0.8247. The 20-day SMA is just in front of the pair, as it is located at 0.8270. Settlement above it would signal about a trend reversal after one month of bearish direction.

Currently bulls are unable to posses more than 30% of the market, as all attempts to increase their share failed. The buy side contracted back by 3% and reached 26%. Waiting order segment demonstrates a bit more bullishness, as 32% of orders are buy.