NZD/USD finds support

Source: Dukascopy Bank SA

Positions Today Yesterday % Change
Longs 49% 46% 6.12%
Shorts 51% 54% -5.88%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Buy Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Sell Sell Sell
Alligator (13; 8; 5) Neutral Buy Buy
SAR (0.02; 0.2) Sell Buy Buy
Aggregate

The New Zealand Dollar continues to lose strength against the US Dollar after the pair re-tested the upper boundary of a medium-term pattern on February 16. 

The decline was stopped by the 200—hour simple moving average, which was located near the 0.7329 mark. However, the weekly PP at 0.7355 is restricting the exchange rate from making any further gain.  

Regarding the near future, the rate is likely to continue its bearish movement during the next trading session. The analyst expects that the US Dollar strengthening against major currencies is likely to continue and the Kiwi is no exception.

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