NZD/USD re-tests 0.7947/19

NZD/USD has already touched upon the monthly PP today, as a result of the currency pair probing the resistance created by the down-trend, weekly R1, 55-day SMA and an upper Bollinger band. Still, a possibility of a close above this zone is substantial, which in turn will imply a recovery up to 0.8027. Further advancement, towards 0.8161, is much less likely and should, in case of occurrence, be followed by a decline.

It seems that the continuation of NZD/USD's rally allowed even more traders to close their positions in profit, based on the fact that the percentage of longs dropped to 58% from yesterday's 60%. As for the orders, 38% of traders plan to acquire the kiwi and 62% intend to sell it in the future.