NZD/USD closes in on 100-day SMA

Similarly to the tendency observed in AUD/USD, the U.S. Dollar is losing value against the kiwi, but in a more pronounced way. The weekly resistance at 0.7994 has already failed to stop the surge, now it is the turn of the 100-day SMA to face NZD/USD and make an attempt to stop the bullish trend. Together with 0.8098 this should prove possible.

At the moment of writing the bears constitute the majority of traders in SWFX market, namely 54% of it. Still, the advantage over the bulls is not yet significant and the sentiment therefore remains neutral. On the other hand, there is a substantial difference between the buy (21%) and sell orders (79%).