NZD/USD sets for breakout

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

Positions Today Yesterday % Change
Longs 53% 55% -3.77%
Shorts 47% 45% 4.26%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Buy Sell
RSI (14) Sell Sell Neutral
Stochastic (5; 3; 3) Sell Sell Sell
Alligator (13; 8; 5) Buy Buy Neutral
SAR (0.02; 0.2) Buy Buy Buy
Aggregate

Upside risks prevailed in the market on Monday, thus sending the New Zealand Dollar to appreciated by about 52 base points against the US Dollar.

The exchange rate was trading near the upper boundary of an ascending channel pattern at 0.6964 during the European trading session on Tuesday.

If the resistance level set by the upper boundary of the channel pattern holds, the currency pair will make a brief retracement towards the 50-hour simple moving average at 0.6909.

However, if the currency exchange rate passes the resistance level as mentioned above, the pair will continue its upside journey today.

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