NZD/USD pressured by SMAs

Source: Dukascopy Bank SA

Positions Today Yesterday % Change
Longs 67% 59% 11.94%
Shorts 33% 41% -24.24%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Sell Sell
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Neutral Neutral Neutral
Alligator (13; 8; 5) Sell Sell Sell
SAR (0.02; 0.2) Sell Sell Sell
Aggregate

The New Zealand Dollar has declined significantly against the US Dollar during the last 48 hours. During the short period, the currency pair has lost 1.65% of its value. By the middle of Thursday trading session, a breakout from the lower boundary of a triangle pattern has occurred as can be observed on the chart.

A strong resistance formed by the combination of the 55-, 100-, and 200-hour SMAs and the weekly pivot point all located near the 0.6791 area was pressurizing the rate further south.

It is unlikely that an upside potential will come into play today as bears are holding their positions very strong. 

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