NZD/USD edges slightly higher

Source: Dukascopy Bank SA

Positions Today Yesterday % Change
Longs 40% 43% -7.50%
Shorts 60% 57% 5.00%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Sell Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Buy Sell Neutral
Alligator (13; 8; 5) Sell Sell Buy
SAR (0.02; 0.2) Buy Sell Buy
Aggregate

The strong momentum mid-Friday was contradicted by the same bearish impact, thus leaving NZD/USD with almost no gains. Meanwhile, no major changes have occurred during the last 24 hours which demonstrates the equal force of both bulls and bears. 

Nevertheless, the rate managed to cross the 55-hour SMA that is regarded as a bullish sign. Other technical indicators also suggest that a recovery may be due either in this session or on Tuesday. 

It is likely that bulls push the Kiwi towards the 100-hour SMA or 200-hour SMA at 0.7198 and 0.7213, respectively prior to setting in the 0.7200/0.7190 territory.

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