NZD/USD continues the decline

Source: Dukascopy Bank SA

Positions Today Yesterday % Change
Longs 38% 39% -2.63%
Shorts 62% 61% 1.61%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Buy Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Neutral Sell Sell
Alligator (13; 8; 5) Sell Buy Buy
SAR (0.02; 0.2) Sell Buy Buy
Aggregate

The movement of the New Zealand Dollar on Thursday was guided mainly by SMAs. The rate breached both the 200-hour simple moving average and a support cluster set by the weekly and monthly PPs near 0.7277.

It is likely that the NZD/USD exchange rate could continue to diminish within the following trading session. However, this bearish momentum might be hindered by the border of a downtrend channel.

Technical indicators flash mixed signals. Nevertheless, it is expected for the currency pair to reverse north for a re-test of the aforementioned cluster.

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