NZD/USD fell out of a triangle

Source: Dukascopy Bank SA

Positions Today Yesterday % Change
Longs 30% 32% -6.67%
Shorts 70% 68% 2.86%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Buy Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Sell Sell Sell
Alligator (13; 8; 5) Buy Buy Buy
SAR (0.02; 0.2) Buy Buy Buy
Aggregate

Two days ago the NZD/USD has entered into an ascending triangle pattern. The projection was the rate will make a breakout in the upward direction by the end of previous trading day. However, a release of the New Zealand's CPI sucked the currency pair down by 52 basis points. Because of that, the first half of Tuesday trading session the Kiwi spent in an attempt to recover lost positions. Fortunately, it managed to bypass the 20-, 55-, 100-hour SMAs and the weekly PP at 0.7306. In that way it returned to the triangle's upper trend-line at 0.7357. Despite the yesterday's turbulence, the general projection remains the same: the Kiwi is going to continues to try to climb to the weekly R1 at 0.7411.

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