NZD/USD correctional moves south likely

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

Positions Today Yesterday % Change
Longs 55% 55% 0.00%
Shorts 45% 45% 0.00%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Sell Sell
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Neutral Sell Neutral
Alligator (13; 8; 5) Buy Neutral Sell
SAR (0.02; 0.2) Buy Buy Sell
Aggregate

Monday's trading session was relatively calm for the NZD/USD currency pair with the exchange rate trading in an extremely low volatility. The upside potential was limited by the weekly R1 at 0.7047.

If the resistance level holds today, it is more likely that the price movement falls lower during this session. However, the 55– or 100– hour simple moving averages might hinder the rate from falling even lower.

Everything being equal, it is likely that the currency exchange rate makes a corrective move south during the following trading session for a potential target toward the SMAs.

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