NZD/USD continues the decline

Source: Dukascopy Bank SA

Positions Today Yesterday % Change
Longs 36% 49% -36.11%
Shorts 64% 51% 20.31%
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) Sell Buy Buy
SAR (0.02; 0.2) Sell Buy Buy
Aggregate

The movement of the Kiwi on Wednesday was guided mainly by the 55—hour simple moving average and the weekly pivot point. The pair breached the 200-hour SMA and the lower boundary of a dominant channel during the close of Wednesday's session. 

It is likely that the Australian Dollar is tended south within the following trading session. This bearish movement might be hindered by a strong support cluster located near the 0.7293 area.

 As for near future, the currency pair could make a reverse north if the previously described situation occurs.  

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