NZD/USD breaches SMAs

Source: Dukascopy Bank SA

Positions Today Yesterday % Change
Longs 55% 59% -7.27%
Shorts 45% 41% 8.89%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Buy Sell
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Neutral Neutral Sell
Alligator (13; 8; 5) Sell Buy Neutral
SAR (0.02; 0.2) Sell Buy Buy
Aggregate

The New Zealand Dollar began today's session with a strong bearish momentum against the US Dollar. The currency pair was pressured south by the 200-hour simple moving average and the weekly pivot point at 0.6894.

As for the near future, it is likely that the NZD/USD currency exchange rate continues its decline. From a technical point of view, the potential downside target will be near a support level at 0.6840.

However, the pair could reverse from current price level and aim for a re-tests of a resistance cluster at 0.6894 today.

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