NZD/USD temporary retracement likely

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

Positions Today Yesterday % Change
Longs 53% 53% 0.00%
Shorts 47% 47% 0.00%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Buy Sell
RSI (14) Neutral Sell Neutral
Stochastic (5; 3; 3) Neutral Neutral Sell
Alligator (13; 8; 5) Buy Buy Neutral
SAR (0.02; 0.2) Buy Buy Buy
Aggregate

The New Zealand Dollar surged by about 100 base points against the US Dollar on Wednesday. The exchange rate was supported by the 50– and 100-hour SMAs during yesterday session.

As for the near future, it is expected that the NZD/USD currency exchange rate makes a temporary retracement down towards a support cluster formed by the 200-hour simple moving average and the weekly PP at the 0.6810 area.

If the support cluster holds, the currency pair will continue its upside journey during the following trading session.

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