NZD/USD plummets

Apparently, 0.7952/36 will be unable to stop kiwi's depreciation. A strong rebound from the nearby support, 0.7918/0.7895, is also a low probability event, regardless of the majority of technical indicators on a daily chart pointing upwards. A short-term recovery from the falling support line at 0.7828 is more likely to occur, but the market should nonetheless retain the bearish bias.

It seems that many traders exploited low price of the New Zealand Dollar and bought it at cheap levels, considering that a share of long positions increased. As a consequence, the traders' sentiment turned neutral—right now 46% of positions are in favour of a stronger NZD.