NZD/USD remains range bound

Pair remains bound, but within tighter range—upper limit is still at 100 day SMA, whilst lower limit could be attributed to monthly PP at 0.8187. Due to the lack of conclusive signals it is reasonable to expect that pair will remain rather volatile, but range bound with slight upside, similar to today.

For the third consecutive day bears have lost significant chunk of the market—at the moment the hold 59% of all positions (-6% since yesterday; -11% in last two days). However, 62% of pending orders are to go short suggesting that bears should continue constituting for majority of market participants.