NZD/USD downside risk continues

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

Positions Today Yesterday % Change
Longs 52% 49% 5.77%
Shorts 48% 51% -6.25%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Sell Buy
RSI (14) Neutral Buy Neutral
Stochastic (5; 3; 3) Neutral Buy Neutral
Alligator (13; 8; 5) Sell Sell Buy
SAR (0.02; 0.2) Buy Sell Sell
Aggregate

The general strength of the US Dollar put pressure on the NZD/USD exchange rate to the downside on Tuesday, thus allowing to prolong the rate losses for the third consecutive session.

This decline was unable to surpass the 0.6991 mark, as the currency pair made a U-turn north. By the middle of Wednesday's trading session, the pair has breached both the weekly S1 at 0.7011 and the upper boundary of a junior descending pattern. However, the 55– hour simple moving average was providing a strong resistance to the rate.

If the currency exchange rate moves past the aforementioned resistance, the nearest barrier that could hinder the price movement up is located at the 0.7047 mark.

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