NZD/USD probes 0.84

Though most of the daily technical indicators (five out of eight) are pointing South, NZD/USD is unlikely to give up any more ground, the reason being a strong cluster of supports around 0.84. If the demand here is enough to keep the Kiwi afloat, there will be a high chance of the currency starting a recovery. The bullish scenario is also suggested by the long-term technical studies, and the surge could potentially extend up to this year's high at 0.8839.

The distribution between the longs and shorts is completely unchanged, as they constitute 57 and 43% of the market respectively. But the share of buy orders went down, namely from 60 to 52%.