NZD/USD surpasses July high

NZD/USD does not appear to be intimidated by the resistance at 0.8105 and continues to advance forward. In order to secure the bearish outlook the areas of supply at 0.8149/41 and, more importantly, 0.8200 should remain above the spot price, which we consider to be the most likely scenario, as the path of the least resistance leads to the lows recorded in 2011 and 2012.

The difference between the bulls and bears widened, as the portion of the former decreased to 41% and the latter increased to 59%, while the New Zealand Dollar is gaining value in its pair with the U.S. Dollar. Concerning orders, the distribution between the buy and sell ones is 16% to 84% respectively.