NZD/USD reaches 0.7340

Source: Dukascopy Bank SA

Positions Today Yesterday % Change
Longs 51% 42% 17.65%
Shorts 49% 58% -18.37%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Sell Buy
RSI (14) Sell Neutral Neutral
Stochastic (5; 3; 3) Sell Sell Neutral
Alligator (13; 8; 5) Buy Sell Buy
SAR (0.02; 0.2) Buy Buy Sell
Aggregate

All major currencies strengthened against the US Dollar on Friday morning and the Kiwi was no exception. Its upward momentum started already late on Thursday when the rate finally breached the 23.6% Fibonacci level, as well as the upper boundary of the senior channel. 

The Kiwi managed to shoot up to the 0.7340 mark before demonstrating that the given bullish sentiment is starting to allay. The scope of the junior ascending channel was altered to the upside in order to include the aforementioned peak. 

By and large, the New Zealand Dollar is likely to depreciate against its American counterpart, possibly pushing for the 0.7280/60 area, as the weekly R1 and the bottom channel boundary are located nearby.

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