NZD/USD stranded between SMAs

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

Positions Today Yesterday % Change
Longs 54% 53% 1.85%
Shorts 46% 47% -2.17%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Buy Sell
RSI (14) Neutral Sell Neutral
Stochastic (5; 3; 3) Neutral Sell Sell
Alligator (13; 8; 5) Buy Buy Neutral
SAR (0.02; 0.2) Sell Buy Buy
Aggregate

A resistance level formed by the upper boundary of an ascending channel pattern at 0.6969 managed to prevent the NZD/USD currency pair from gaining strength on Tuesday.

The exchange rate was stranded between SMAs during the European session on Wednesday. The 50-hour simple moving average at 0.6934 was providing resistance for the rate, while the 100-hour SMA at 0.6903 was providing support.

Everything thing being equal, it is likely that bearish traders could push the New Zealand Dollar towards the lower boundary of an ascending channel at 0.6903 today.

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