NZD/USD breakout occurs

Source: Dukascopy Bank SA
PositionsTodayYesterdayChange
Longs35%26%25.5%
Shorts65%74%-13.5%
Indicator4H1D1W
MACD(12;26;9)SellBuyBuy
RSI(14)NeutralNeutralSell
Stochastic(5;3;3)BuyBuySell
Alligator(13;8;5)SellBuyBuy
SAR(0.02;0.2)SellSellBuy
Aggregate

Downside momentum pressured the New Zealand Dollar against the US Dollar on Friday. The NZD/USD exchange rate declined by 145 pips or 1.97% during Friday's trading session.

Given that a breakout had occurred through the lower boundary of an ascending channel pattern, sellers might pressure the currency pair lower during the following trading session.

However, a support line at the 0.7200 level could provide support for the currency exchange rate within this session.

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