NZD/USD stopped by 0.8322/0.8292

Although a surge in the price last Friday appeared to be quite strong, as the pair was moving sharply away from the support at 0.8203/0.8186, subsequently NZD/USD failed to pierce through the monthly R1 and the 55-day SMA. Now the selling pressure may pull the price back down to the 100-day SMA, unless the support at 0.8242/27, formed by the weekly pivot points and the 20-day, halts the decline.

The kiwi remains one of the least preferred currencies in the SWFX market, being bought in merely 26% of cases, down from yesterday's 29%. The ratio between the longs and shorts in NZD/USD, on the other hand, was not subject to change—30% of the market are bulls and 70% are bears.