NZD/USD down amid US fundamentals

Source: Dukascopy Bank SA

Positions Today Yesterday % Change
Longs 32% 32% 0.00%
Shorts 68% 68% 0.00%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Sell Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Sell Sell Neutral
Alligator (13; 8; 5) Sell Sell Buy
SAR (0.02; 0.2) Sell Sell Buy
Aggregate

Despite the 32-pips appreciation of the Greenback that was caused by a surprising release of information on the US Retail Sales, the currency rate managed to stay within an active descending channel. Basically, today the Kiwi has to try to restore some of the lost positions and, thus, climb at least to the 0.7279 level. After reaching that target, the rate is expected to make a rebound, because of the additional pressure exercised by the 55- and 100-hour SMAs. 

A summary of technical indicators for the 5H and 1D timeframes support this scenario. However, there is a need to take into account a release of data on the US Building Permits, which, depending on the result, might accelerate the fall or help the pair to clear a path to the top.

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