NZD/USD jumps from the major up-trend

NZD/USD remains above the major level, as the price jumped from 83.43, where the support lies since June, 2012. However, today the pair sharply appreciates from the 55-day SMA and steps up towards the 20-day SMA at 0.8408. If the bullish momentum remains in the lead, it is likely that the pair will face a more serious resistance only around a 0.8477 level, which has not been breached for more than a year.

The New Zealand Dollar slightly regains its position, as traders are willing to buy the relatively weak kiwi. There are 30% of long positions and 70% of short positions. Pending orders' situation is very similar, as only 33% of orders are long and 67% are short.