NZD/USD shows no changes

Source: Dukascopy Bank SA

Positions Today Yesterday % Change
Longs 51% 66% -29.41%
Shorts 49% 34% 30.61%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Sell Sell
RSI (14) Buy Buy Neutral
Stochastic (5; 3; 3) Sell Neutral Neutral
Alligator (13; 8; 5) Sell Sell Sell
SAR (0.02; 0.2) Sell Sell Sell
Aggregate

Even though the New Zealand Dollar has diminished the steepness of its price decrease, the given currency has nevertheless remained under bearish pressure.  

The pair continues to trade along the lower boundary of the junior channel in a diminishing range between the 55-hour SMA and the weekly S1. This range should be breached in the following trading session. 

Technical indicators suggest that the former might provide a stronger barrier, thus sending the Kiwi for a further decline. 

Given that the US is to release its Advance GDP for the third quarter of 2017 mid-Friday, traders might be reluctant to introduce major changes to the overall price level. 

Thus, the Kiwi could fluctuate between the 100-hour SMA and the monthly S3 in the 0.6925/0.6810 area.

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