NZD/USD breaches 200-day SMA; 0.7922 is in focus

The New Zealand dollar deteriorated against the US dollar and the  currency pair is targeting 0.7922. As bearish inertia seems to intensify, bearish investors might expect the next major resistance levels to be located at 0.7886 (50% Fibo) and 0.7812 (Lower Bollinger band), respectively.

The NZD/USD traders' sentiment remains slightly bullish as 52% of investors see the pair advancing further while 47% of traders stick to an opposite scenario. 61% of market participants eye a continuation of the bearish trend over the middle term and 39% of currency traders expect a deeper correction in NZD/USD.