NZD/USD 1H Chart: Channel Up

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank sA
Due to the recent strength of the greenback, NZD/USD breached a crucial level at 0.8194 on December 4. During the day the pair already tried to inch back into pattern's boundaries, however, after touching the support line once again, the pair lost almost 30 pips and hit 200-hour SMA once again. Meanwhile, 65% of opened positions are short, and the fact Kiwi is sold in 69.80% of cases across the broad is suggesting investors are strongly bearish on the New Zealand Dollar. In this case short traders could focus on a weekly pivot at 0.8171 and in case it will be breached next level at which sellers can experience some difficulties could be found at 0.8154.
© Dukascopy Bank SA
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