| Positions | Today | Yesterday | Change |
|---|---|---|---|
| Longs | 75% | 72% | 4.1% |
| Shorts | 25% | 28% | -12.3% |
| Indicator | 4H | 1D | 1W |
| MACD(12;26;9) | Sell | Sell | Sell |
| RSI(14) | Neutral | Buy | Neutral |
| Stochastic(5;3;3) | Neutral | Neutral | Buy |
| Alligator(13;8;5) | Sell | Sell | Sell |
| SAR(0.02;0.2) | Sell | Sell | Sell |
| Aggregate | ⇘ | ⇘ | ⇘ |
Bearish momentum has continued to pressure the New Zealand Dollar lower against the US Dollar. The currency pair declined by 117 pips or 1.86% in value during Friday's trading session.
The exchange rate bounced off the lower boundary of a descending channel pattern at 0.6193 on Monday morning. As a result, the NZD/USD pair breached the weekly PP at 0.6266.
However, the currency exchange rate could make a downside reversal from the weekly PP, as mentioned earlier, during the following trading session.