NZD/USD just below the weekly PP

NZD/USD pair was under heavy bearish pressure during the trading session on Friday. The pair slipped beneath the 200-day SMA at 0.8233, which last time was overcome only in September of 2012. However, today the price has recovered bullish impetus and attempts to recover a previous position above the SMA. Thus, further movement will depend on how bulls and bears deal with this level and on which side the pair settles

The New Zealand Dollar remains heavily oversold, as only 28% of traders possess this currency and the majority of traders, 72%, have the U.S. Dollar on their balance sheets. Pending orders' market exhibits strong bearish sentiments, as 37% bet on an appreciation and 63% on further decrease.