NZD/USD tests the May 2012 low again

The NZD/USD cross performed very bullish today and tested the critical 38.20% Fibonacci retracement or the May 2012 low at 0.745. The pair is still trading below the 55– 100– and 200– day SMAs, which are moving to the south. The NZD/USD approached a trend bottom line at 0.749 before sliding lower. The next support level is situated at the Alligator (13;8;5) jaw line at 0.739.

The market added some investors and 41% of all are buying currently, up from 38% last time. The pair will be sold by 40% of traders once it surpasses the 50– pip range. The 100– pip pending orders have the same amount of bulls and bears.