NZD/USD executes a correction

In the last trading session of the current week the kiwi also experiences bearish sentiments and executes a counter-move for a recent weeks' upside trend. The pair returned back into the Bollinger band, while yesterday the whole candle was outside the corridor. The price is stopped by a resistance at 0.8545, which is based on the weekly R3 and the monthly R2.

Current traders' sentiments perfectly reflect today's move, as the vast majority of positions, 72%, are short and exploit pair's depreciation. Waiting orders segment is bullish with 60% of orders willing to buy the New Zealand Dollar and proceed the previous appreciation further.