NZD/USD soars

The kiwi steps higher on Monday and continues last week's direction, as the price firmly appreciates from a 0.85 level to the monthly R2 at 0.8545. Seems that the pair finally settled above the 20-day SMA, allowing accumulation of a stronger bullish momentum. The next resistances are rather weak, as the weekly R1 is at 0.8587 and the Bollinger band is located at 0.8618. Mostly changes in the global investment sentiments towards more negative can ease an appreciation pace.

Bears recovered lost market share, as the sell side increased to 74% and restated the vast majority status. Placed orders market delivers gently bearish sentiments, as 57% of orders are ready to sell the New Zealand Dollar over the U.S. currency.