NZD/USD breakout from junior pattern

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

Positions Today Yesterday % Change
Longs 41% 37% 9.76%
Shorts 59% 63% -6.78%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Sell Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Sell Sell Sell
Alligator (13; 8; 5) Buy Sell Buy
SAR (0.02; 0.2) Buy Sell Buy
Aggregate

The New Zealand Dollar has traded with increased volatility against the Greenback since yesterday. The reason was the rate bouncing between two competing level of significance.

The NZD/USD currency pair was bouncing between the resistance of a descending channel and the support of an ascending pattern. Due to that reason, the exchange rate breached the bottom boundary of the junior ascending pattern.

Everything being equal, the pair is likely to decline further until it finds support at a cluster set by the 100– and 200– hour simple moving average near the 0.7244 regions.

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