NZD/USD upwards channel continued

Source: Dukascopy Bank SA

Positions Today Yesterday % Change
Longs 45% 42% 6.67%
Shorts 55% 58% -5.45%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Sell Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Sell Sell Sell
Alligator (13; 8; 5) Buy Sell Buy
SAR (0.02; 0.2) Buy Sell Buy
Aggregate

The New Zealand Dollar continues to be gaining strength against the US Dollar. The currency pair ended Friday with a high at 0.7306. The rate has been moving in a systematic way since the beginning of March.

The NZD/USD pair has continued its bullish path and the exchange rate is moving in an ascending order inside the main channel.

In regards to the next trading session, the pair is likely to retrace south and find support at a cluster set by the 55– and 100—hour SMAs. If and when this scenario occurs, the pair could make a U-turn north.

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