NZD/USD decline like to continue

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

 Positions Today Yesterday Change
 Longs 50% 52% -4.5%
 Shorts 50% 48% 4.4%
       
 Indicator 4H 1D 1W
 MACD(12;26;9) Sell Buy Buy
 RSI(14) Buy Neutral Neutral
 Stochastic(5;3;3) Buy Neutral Neutral
 Alligator(13;8;5) Sell Buy Buy
 SAR(0.02;0.2) Sell Sell Buy
 Aggregate

The New Zealand Dollar depreciated about 137 base points against the US Dollar on Wednesday. The currency pair breached a medium-term ascending channel pattern during yesterday trading session.

Given that a breakout had occurred, it is likely that the NZD/USD exchange rate will continue its decline today.

The potential downside target for the currency exchange rate will be near the lower boundary of a junior descending channel pattern at 0.6780.

Meanwhile, technical indicators suggest a bearish signal on the 4(H) time-frame chart.

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