NZD/USD fails to accelerate

Source: Dukascopy Bank SA

Positions Today Yesterday % Change
Longs 60% 69% -15.00%
Shorts 40% 31% 22.50%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Sell Sell
RSI (14) Neutral Buy Neutral
Stochastic (5; 3; 3) Neutral Buy Neutral
Alligator (13; 8; 5) Sell Sell Sell
SAR (0.02; 0.2) Buy Sell Sell
Aggregate

Monday's session did not introduce changes to the NZD/USD currency pair which was mainly due to resistance and support surrounding the rate. As a result, the New Zealand Dollar was trading sideways against the US Dollar.

By the middle of Tuesday's trading session, the 55-hour simple moving average has fallen below the price. This move could suggest that the trend of the market might be changing in the short term.

In case the 55-hour SMA remain below the price within this session, bulls are likely to push the currency exchange rate higher towards strong resistance cluster formed by the weekly pivot point and the 100-hour SMAs near 0.6639 within the following trading day.

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