NZD/USD plunges on Wednesday

Source: Dukascopy Bank SA

Positions Today Yesterday % Change
Longs 47% 41% 12.77%
Shorts 53% 59% -11.32%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Sell Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Sell Sell Neutral
Alligator (13; 8; 5) Buy Sell Buy
SAR (0.02; 0.2) Buy Sell Buy
Aggregate

After reaching the 0.7300 mark mid-Tuesday, the New Zealand Dollar gradually lost its value against the Greenback and failed to form another up-wave. The rate was stranded between the 200– and 55-hour SMAs for a few hours before the bearish sentiment eventually took the upper hand.

For the reason that the rate has surpassed all three SMAs, the closest bottom barrier is the relatively distant weekly S1 at 0.7178. Thus, there is a large gap of downside potential. The pair's movement within the last week demonstrates the existence of a broadening wedge whose bottom line circa 0.7210 may in fact hinder or even halt the current fall.

Actual Topics

Subscribe to "Fundamental Analysis" feed

Subscribe
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.