NZD/USD edges higher on Thursday

Source: Dukascopy Bank SA

Positions Today Yesterday % Change
Longs 37% 39% -5.41%
Shorts 63% 61% 3.17%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Buy Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Sell Sell Sell
Alligator (13; 8; 5) Buy Buy Buy
SAR (0.02; 0.2) Buy Buy Buy
Aggregate

The most prominent action in the previous trading day was the Kiwi's massive hourly surge in the wake of fundamentals late Wednesday. Subsequently, the pair demonstrated distinctive upward momentum, overcoming the weekly PP at 0.7249 and trading near the upper Bollinger band. The pair bounced off from a trend-line at 0.7267 and turned to the downside, facing all four SMAs in the 0.7245/34 area. Taking into account that technical indicators remain bullish, it is likely that the Kiwi halts at one of these levels and makes a U-turn to re-test the aforementioned trend-line. In case no strong market movers affect the pair, it might remain near the 20-hour SMA for several trading hours. On the contrary, a breakout of all SMAs should lead the Kiwi towards the lower Bollinger band circa 0.7210.

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