Kiwi fails to surge to weekly R1

Source: Dukascopy Bank SA

Positions Today Yesterday % Change
Longs 28% 28% 0.00%
Shorts 72% 72% 0.00%
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

Contrary to prognoses, after updating the six month record at the 0.7373 level, NZD/USD did not continue the surge towards the weekly R1 at 0.7411. In contrast, it made a rebound and, one by one, fell though the 20-, 55- and 100-hour SMAs to the 0.7335 level. Afterwards, similarly to the USD/CAD pair, it resumed the surge once again. Most probably, it will not succeed to update the above record during the rest of this trading day. In other words, the rate is expected to end the day near the 0.7370 mark. Likewise, it has low chances to fall below the combined support level formed by the 200-hour SMA and the weekly PP at 0.7306.

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