NZD/USD breaks pattern

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

Positions Today Yesterday % Change
Longs 58% 52% 10.34%
Shorts 42% 48% -14.29%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Sell Sell
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Buy Neutral Neutral
Alligator (13; 8; 5) Sell Sell Sell
SAR (0.02; 0.2) Sell Buy Sell
Aggregate

The triangle pattern of the NZD/USD exchange rate which was drawn on Wednesday has been broken by strong bearish momentum. The pair dashed through the lower boundary of the pattern during the early hours of Thursday's session.

The currency pair is expected to continue its decline in the short term, as it faced no significant support level. Moreover,  the 55-, 100-, and 200-days are providing confirmation that the bearish movement is likely to continue within this session.

As for the near future, it is likely that the New Zealand Dollar could continue moving down against the US Dollar until it finds support near the 0.6729 mark during the following trading session.  

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