NZD/USD holds the same level

The NZD/USD pair stayed mainly unchanged for the end of the week, as the pair rebounded from the weekly R1 at 0.751, but was pressured back to the lows. The next support level is the monthly PP, 0.745. On the upside, the Bollinger band at 0.756 seems to hold the resistance. The cross is getting closer to the 2009 high at 0.76. Despite the recent bearish move, the weekly R1 support seems to be difficult to surpass. Moreover, the Alligator (13,8,5) indicator links to a further appreciation.

The NZD/USD traders are expecting the US Dollar to strengthen, since 62% of them are selling the pair. The pending orders remained the same with 42% of long position for the 50– pip range and 29% for 100– pip ones.