NZD/USD in up-wave

Source: Dukascopy Bank SA

Positions Today Yesterday % Change
Longs 44% 40% 9.09%
Shorts 56% 60% -7.14%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Sell Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Sell Neutral Neutral
Alligator (13; 8; 5) Sell Sell Buy
SAR (0.02; 0.2) Buy Sell Buy
Aggregate

After showing no distinctive movement on Monday, NZD/USD accelerated the following day and shot past the 55– and 100-hour SMAs.  

The rate's upward momentum has been confined in the bounds of a minor channel up. Thus, it might be assumed that the pair will try to approach the upper boundary of the junior channel which is reinforced by the 200-hour SMA.  

Meanwhile, technical oscillators are located near the overbought area. Thus, the aforementioned appreciation might be followed by a reversal in the 0.7200/10 territory. As a result, no massive changes to the overall price level are expected to occur on the daily perspective.

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