NZD/USD fails to breach weekly R1

Source: Dukascopy Bank SA

Positions Today Yesterday % Change
Longs 45% 44% 2.22%
Shorts 55% 56% -1.82%
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 Buy Buy
Aggregate

The New Zealand Dollar appreciated substantially against the Greenback on Tuesday, halting solely at the weekly R1 at 0.7262. This level was tested two times but with no success.  

The market sentiment changed swiftly in this session when bears took the upper hand. As a result, the Kiwi fell down to the 200-hour SMA. The 55-hour SMA and the weekly PP are likewise located near this level.  

The up-wave has formed a minor ascending channel. The rate should reach the 0.72 mark where the lower boundary of this channel is located. Thus, no major price changes are expected to occur if US fundamentals do not shake the market.

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