NZD/USD positioned for gains

Source: Dukascopy Bank SA

Positions Today Yesterday % Change
Longs 39% 37% 5.13%
Shorts 61% 63% -3.28%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Sell Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Sell Sell Sell
Alligator (13; 8; 5) Buy Sell Buy
SAR (0.02; 0.2) Buy Sell Buy
Aggregate

The situation on the hourly NZD/USD chart is very similar to the situation on other commodity charts. The pair has found support in a combination of the 55-hour SMA and the lower trend line of the junior ascending channel pattern.  

The rate is most likely going to surge up to the 0.7350 mark, where the weekly R1 is located at. In addition, near that level the resistance line of the dominant channel down pattern is located at.  

However, it has to be taken into account that during the last few weeks, the pair has not managed to pass a resistance level near the 0.7330 mark. Although, the basis for the resistance is for now unclear.

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