NZD/USD soars

Just as on Jun 13, NZD/USD ballooned through the bearish resistance line and has already reached the monthly pivot point level at 0.7855. Still, the pair must close above 0.7809/0.7795 to confirm the breach of the trend-line. Moreover, to negate the negative outlook, the price should settle over 0.8161, which was posted on Mar 13 and is relatively safe at the moment.

It appears that some of the bullish traders were able to profit from the two-day rally, considering that the portion of long positions has dropped from 64% to 60% since the last report. At the same time the majority believe the kiwi will manage to appreciate even more. The ratio between the buy and sell orders is 29% to 71%.