NZD/USD brief retracement expected

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

Positions Today Yesterday % Change
Longs 49% 56% -14.29%
Shorts 51% 44% 13.73%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Buy Sell
RSI (14) Sell Sell Neutral
Stochastic (5; 3; 3) Sell Sell Neutral
Alligator (13; 8; 5) Buy Buy Sell
SAR (0.02; 0.2) Buy Buy Sell
Aggregate

The New Zealand Dollar surged by 120 base points against the US Dollar on Tuesday. The currency pair breached a resistance cluster formed by the combination of the weekly and the monthly PPs near the 0.6728 region during the end of yesterday's trading session.

Given that the currency exchange rate has breached the resistance level as mentioned above, the next target for the pair will be at the weekly R2 at 0.6794 within this session.

However, it is expected that the NZD/USD exchange rate makes a brief retracement towards a support level ay 0.6728 today.

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