NZD/USD decline continues

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

Positions Today Yesterday % Change
Longs 64% 56% 12.50%
Shorts 36% 44% -22.22%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Sell Sell
RSI (14) Buy Buy Neutral
Stochastic (5; 3; 3) Buy Buy Neutral
Alligator (13; 8; 5) Sell Sell Sell
SAR (0.02; 0.2) Sell Sell Sell
Aggregate

The New Zealand Dollar continues losing ground against the US Dollar. The currency pair breached a support cluster formed by the combination of the weekly and the monthly PPs near 0.6775.

Given that the exchange rate has not be able to make an upside move, it could be poised for another set of decline during the following trading session. A potential target for the pair might be the lower boundary of the downtrend channel.

Regarding the near future, the NZD/USD currency exchange rate is likely to maintain the channel down until it breached the bottom border of the aforementioned down pattern.

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