NZD/USD drops from the weekly PP

NZD/USD pair sharply drops from the weekly PP level at 0.8378, where yesterday it found resistance. Today the price shows significant bearish sentiments, as it has already reached the 100-day SMA and the lower Bollinger band at a 0.8320 level. If the pair settles beneath this level, the next support zone will be at an area bounded by 0.8280, where the long-term support line lies, and by the 0.8265 level, where the 100-day SMA merges with the weekly S2.

The majority of traders are bearish on NZD/USD pair, since 29% of opened positions are long and 71% are short. Pending orders segment is more balanced, since 53% of orders are for a long position and 47% are for a short position.