NZD/USD bounced off 0.8113

After a failure to advance above the 100-day SMA the currency pair has already slid below the weekly pivot point level at 0.8029, even though the technicals have become even more bullish on a daily chart than they were yesterday. The nearest supports are at 0.7952 and 0.7924/01, but they should give way for a deeper dip, down to the falling line at 0.7855/28.

Today's long-short ratio is the same as yesterday. The bulls are in a minority with 42%, whereas the bears enjoy the dominance being in a majority—58%. As for the orders placed on NZD/USD, 41% are to purchase the New Zealand Dollar and 59% are to sell it against the U.S. Dollar.