NZD/USD reaches new record high this year

Source: Dukascopy Bank SA

Positions Today Yesterday % Change
Longs 32% 25% 21.88%
Shorts 68% 75% -10.29%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Buy Buy
RSI (14) Sell Sell Sell
Stochastic (5; 3; 3) Sell Sell Sell
Alligator (13; 8; 5) Buy Buy Buy
SAR (0.02; 0.2) Buy Buy Buy
Aggregate

Due to the announcement of the Fed's Federal Funds Rate yesterday, this matched with combined support level formed by the 20-, 55- and 100-hour SMAs, the currency pair skyrocketed through the 50% Fibonacci retracement level at 0.7457, the weekly R1 at 0.7525 and the monthly R2 at 0.7535. In this way, the rate has updated its six months record high at the 0.7551 level. At the current moment, the markets have cooled down and the buck started to gain value once again. However, it seems unlikely that the pair will manage to retreat back to the monthly R1 at 0.7435. In contrast, it is projected to be stopped by the 55- and 100-hour SMAs that are currently fluctuating around the above retracement level. Finally, it should be noted that the next turmoil might the caused by release of the US Advance GDP tomorrow.

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