NZD/USD pressured by 55-hour SMA

Note: This section contains information in English only.
Source: Dukascopy Bank SA

Positions Today Yesterday % Change
Longs 53% 56% -5.66%
Shorts 47% 44% 6.38%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Sell Sell
RSI (14) Buy Neutral Neutral
Stochastic (5; 3; 3) Neutral Buy Neutral
Alligator (13; 8; 5) Sell Sell Sell
SAR (0.02; 0.2) Sell Sell Sell
Aggregate

After hitting a resistance level set by the 55-hour simple moving average at 0.6938 on Monday, the NZD/USD currency pair continued its journey south. As a result, the pair broke out from an ascending trend line.

By the middle of Tuesday's trading session, the exchange rate encountered support at 0.68886 set by the monthly pivot point. 

Everything being equal, the currency exchange rate is likely to make a corrective move north toward the upper boundary of a channel down during the following sessions. Nevertheless, it is expected for the rate to maintain the pattern today. In the meantime, technical indicators flash bearish signals.   

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