NZD/USD returns into a flat area

The New Zealand Dollar sharply depreciates relative to the U.S. Dollar and maintains a strong correlation with other Oceania's currencies. The kiwi is on a slide for a second straight day, as the price slipped through the monthly R2 at 0.8245 and decreased towards the monthly R1 and the 20-day SMA at 0.8442. A very important level is at 0.8477, which is the upper boundary of a flat channel started in July, 2011.

Investors are satisfied with their positions, as there are no changes in SWFX market sentiments. The leading position is taken by the bears, who control 73% of all opened positions. Pending orders are oriented for a movement north, as 58% of orders are set as long positions.