NZD/USD breached the dominant channel

Source: Dukascopy Bank SA

Positions Today Yesterday % Change
Longs 39% 38% 2.56%
Shorts 61% 62% -1.64%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Buy Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Sell Sell Sell
Alligator (13; 8; 5) Neutral Neutral Buy
SAR (0.02; 0.2) Buy Sell Buy
Aggregate

As expected, the NZD/USD pair breached the upper boundary of the dominant channel. 

After hitting the 50.00% Fibonacci retracement level, the currency exchange rate is gradually moving back south to test the lower boundary of the ascending channel. This retracement can be measured by connecting the low at 0.7178 and the high at 0.7421.  

For the near future, the currency pair is likely to remain bullish. Meanwhile, technical indicators suggest mixed signals.

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