NZD/USD probes demand at 0.8675/39

This week turned out to be distinctly bearish for NZD/USD—nearly two figures have been lost since Monday. Nevertheless, now the currency pair has a great opportunity to negate the recent losses, or at least a part of them,—the rate approached a dense demand zone, which is mainly created by the monthly PP and 100-day SMA. If this area fails to negate the current downward momentum, the 200-day SMA at 0.8471 will be exposed.

The distribution between the bulls and bears remains skewed in favour of the latter, as they take up 66% of the market (68% yesterday). As for the orders, 39% are to buy and 61% are to sell the Kiwi against the Greenback.