NZD/USD soars from 0.8294

NZD/USD has nearly reached the rising support trend-line, piercing through 0.8331/04 yesterday. Eventually, this turned out to be the case that reminded us of a necessity to wait for a confirmation of a breach, as a hasty decision, before the price has fully formed the candle, could have lead to unwanted consequences. In the meantime, the pair has already passed a resistance line at 0.8381/78 and is poised for additional gains in the near future.

Traders' sentiment stays unchanged towards the currency pair, since the ratio between the long and short positions is 29% to 71%, accordingly. Such attitude with respect to NZD/USD goes in line with the general negative perception of the kiwi, which is bought only in 30% of cases on average. The distribution between buy and sell orders is 47% to 53%, respectively.