NZD/USD seems to be range bound

Pair bounced from the weekly PP and is continuing to show mild bullishness, but it seems to be range bound in any case (0.8196 to 0.8334 in medium to long term; 0.8266 to 0.8334 in the short term). If the pair is to advance above the 20-day SMA it would put October high around 0.8540 on the map. Dip below 0.8196 could provoke a significant failure and we could see the pair being sold of to 79 cen. That's where median expectation for this quarter of major market participants is located.

Bears continue to hold moderate majority of open positions. At the moment they account 67% of market participants, that is 4% more than yesterday. Overwhelming majority (70%) of pending orders, however, remain in favour of the bulls.