NZD/USD slips from 0.8136

NZD/USD has already pulled back to the down-trend line it has recently breached, suggesting that bearishness is about to end and thereby give way to a rise up to 0.8161/49. Breach of this resistance will expose the 55-day SMA and weekly R1 at 0.8220/06, although advancement beyond this will be difficult, taking into account the 100 and 200-day SMAs at 0.8292/76.

The long-short ratio on NZD/USD continues to exhibit stability despite the pair moving and not standing at the same level. Accordingly, the advantage of bulls over bears remains nominal—six percentage points. As for the orders, 62% of them are to either open short positions or close open longs.