NZD/USD slipped beneath the 200-day SMA

NZD/USD was too weak to overcome the 20-day SMA at 0.8247 and enter the upper part of the Bollinger band. The kiwi even slipped beneath the 200-day SMA, located at 0.9243, and currently is traded just beneath the weekly PP at 0.8223. Situation is highly ambiguous, as a settlement above the SMAs would be a strong buy signal and indicate a reversal of trend. And if the price fails to pass the resistance, it might drop down to the Bollinger band at 0.8187.

SWFX market investors maintain a significant bullish exposure, as the sell side still contains 72% of all positions, indicating huge expectations to face further depreciation. Pending orders market exhibits more balanced figures, as 40% of orders are waiting to buy the New Zealand Dollar.