NZD/USD might continue to trade sideways

Source: Dukascopy Bank SA
PositionsTodayYesterdayChange
Longs71%70%2.2%
Shorts29%30%-5.4%
Indicator4H1D1W
MACD(12;26;9)SellSellSell
RSI(14)NeutralBuyNeutral
Stochastic(5;3;3)NeutralNeutralNeutral
Alligator(13;8;5)SellSellSell
SAR(0.02;0.2)BuySellSell
Aggregate

The New Zealand Dollar traded sideways against the US Dollar. The currency pair was trading near a resistance cluster formed by the combination of the weekly and the monthly PPs at 0.6475 during yesterday's trading session.

Everything being equal, it is likely that the NZD/USD exchange rate will continue to trade flat within this session.

Although, a breakout to either direction could occur within this session. Technical indicators demonstrate that bears are likely to prevail in the market during the following trading hours.

Actual Topics

Subscribe to "Fundamental Analysis" feed

Subscribe
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.