Though Anasazi is has been in use for quite a while, it is the Navajo for “ancient enemies,” and is considered to be derogatory.
Archaeologists have been using “Ancestral Puebloans.” However modern researchers prefer either the Hopi term “Hisatsinom” - the “ancient people” or the Tewa language “Se’da” - the “ancient ones.”
Since the Navajo did not arrive in this area until about 1350 AD, their word “Anasazi” shows a previous relationship between the two peoples, and is a clue that should not be discarded.
http://www.ausbcomp.com/redman/hisatsinom.htm
That's the translation I've always read...The Ancient Ones.