NZD/USD underpinned by 0.8207

The price has re-tested the rising support trend-line and thus confirmed its topicality for traders, while 0.8259/36 alone was incapable of halting the recent dip. Since NZD/USD remains in an up-trend, we expect the pair to step higher, although it will need to overcome 0.8304/0.8291 to target 0.8343 first, then 0.8453/83, which includes Dec 14 high.

The gap between the shares of short and long on the currency pair market participants has narrowed, but did not bring any notable change in the overall sentiment of the market, since an overwhelming majority of traders remains negative towards the prospects of NZD/USD. Conversely, the numbers of buy and sell orders are equal.