NZD/USD two scenarios likely

Note: This section contains information in English only.
Source: Dukascopy Bank SA
PositionsTodayYesterdayChange
Longs72%73%-1.3%
Shorts28%27%3.4%
Indicator4H1D1W
MACD(12;26;9)SellSellSell
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralNeutralNeutral
Alligator(13;8;5)SellSellSell
SAR(0.02;0.2)BuySellSell
Aggregate⇒⇘⇘

[ANNOUNCE]The New Zealand Dollar declined by 75 pips or 1.19% in value against the US Dollar on Wednesday. The currency pair breached the 50-, 100– and 200– hour SMAs during yesterday's trading session. [/ANNOUNCE]

Currently, the exchange rate is testing a support level formed by the weekly S1 at 0.6240.

If the support line holds, the NZD/USD pair will make a slight upward movement within this session.

However, if the currency exchange rate breaks the weekly S1, the next target would be at the lower boundary of a descending channel pattern at 0.6150.

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