NZD/USD bullish momentum

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

Positions Today Yesterday % Change
Longs 61% 56% 8.20%
Shorts 39% 44% -12.82%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Sell Sell
RSI (14) Neutral Neutral Buy
Stochastic (5; 3; 3) Neutral Neutral Buy
Alligator (13; 8; 5) Buy Sell Sell
SAR (0.02; 0.2) Buy Buy Sell
Aggregate

Upside risks prevail in the market on Monday, thus allowing the New Zealand Dollar to gain 57 base points against the US Dollar. The currency pair breached the weekly resistance level at 0.6595 during the first part of Tuesday's session.

Given that the exchange rate has breached the resistance line mentioned above, the pair could continue upward for a potential target near the upper boundary of a junior ascending channel at 0.6620.

On the other hand, the NZD/USD pair might reverse from currency price level and aim for the 50-hour simple moving average at 0.6571 today.

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