NZD/USD gaining strength

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

Positions Today Yesterday % Change
Longs 59% 50% 15.25%
Shorts 41% 50% -21.95%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Neutral Buy
RSI (14) Neutral Sell Neutral
Stochastic (5; 3; 3) Sell Neutral Buy
Alligator (13; 8; 5) Buy Sell Sell
SAR (0.02; 0.2) Sell Sell Sell
Aggregate

The New Zealand Dollar movement against the US Dollar has been constrained by a junior ascending channel. The exchange rate reversed from it lower boundary during the middle of Monday's trading session and has since gained 84 base point or 1.21%.

During this period of bullish sentiment, a had breakout occurred through the up border of a descending channel. By the early hours of today session, the pair has moved past the monthly pivot point at 0.6944.

The NZD/USD currency exchange rate is likely to retrace south in the short-term for a potential target at 0.6921 which is a support cluster set by the 55– and 200– hour SMAs.    

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