NZD/USD tries to reach 0.7310

Source: Dukascopy Bank SA

Positions Today Yesterday % Change
Longs 31% 31% 0.00%
Shorts 69% 69% 0.00%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Buy Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Buy Neutral Neutral
Alligator (13; 8; 5) Sell Neutral Buy
SAR (0.02; 0.2) Buy Sell Buy
Aggregate

The rest of the previous trading session the New Zealand Dollar expectedly spent in a gradual advance against the US Dollar, trying to reach the weekly S2 at 0.7310. At the moment, it still has not reached the target even with the help from a release of information on the US CPI. On the other hand, such slow movement is in line with the general market sentiment, which is only 55% bearish, as well as with the summary of various technical indicators, which projected horizontal movement. It is quite possible that the pair will manage to bypass the above-mentioned resistance and jump towards the 100-hour SMA near 0.7319. If the surge will be stopped at this points, that would be a final evidence of existence of a falling wedge.

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