NZD/USD continues to lose its value

Recent few days were really bad for the New Zealand Dollar, as its value against the U.S. Dollar shrunk substantially, starting its trip from the major resistance level at 0.8534. Currently the pair is traded at an intersection point of the 55-day and 100-day SMAs. Most probably the price will not breach this level with the first try, thus it is likely to see a retreat to 0.8415, where was a support for a previous dip.

Composition of bullish and bearish positions on the NZD/USD pair is one of the most stable, as 73% positions are opened as shorts. Mostly investors trade on sentiments that the kiwi is very close to few years' high. Pending orders market is less bearish, but still 60% of waiting orders are placed to sell the pair.