NZD/USD reveals new pattern

Note: This section contains information in English only.
Source: Dukascopy Bank SA

Positions Today Yesterday % Change
Longs 57% 60% -5.26%
Shorts 43% 40% 6.98%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Sell Sell
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Neutral Neutral Neutral
Alligator (13; 8; 5) Buy Neutral Sell
SAR (0.02; 0.2) Buy Buy Sell
Aggregate

The New Zealand Dollar was constrained in a newly drawn junior ascending pattern on Monday against the US Dollar and thus sending the exchange rate to breached the upper boundary of a downtrend line. 

The 100-hour simple moving average and the weekly pivot point at 0.6880 were providing support for the currency pair yesterday that allowed the rate to moved higher.

In case bullish sentiment continues to prevail in the market, the NZD/USD currency exchange rate is likely to test a significant resistance level set by the weekly PP near the  0.6845 mark during the following trading session.  

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