NZD/USD tests weekly PP at 0.6834

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

 Positions Today Yesterday Change
 Longs 51% 47% 7.8%
 Shorts 49% 53% -8.2%
       
 Indicator 4H 1D 1W
 MACD(12;26;9) Sell Sell Buy
 RSI(14) Sell Neutral Neutral
 Stochastic(5;3;3) Neutral Buy Neutral
 Alligator(13;8;5) Neutral Sell Buy
 SAR(0.02;0.2) Buy Sell Buy
 Aggregate

The New Zealand Dollar depreciated about 66 base points against the US Dollar on Wednesday. The decline was stopped by a support level formed by the weekly pivot point at 0.6816.

If this support level continues to hold within this session, buyers could push the exchange rate towards the weekly R1 at 0.6911. 

On the other hand, if the currency exchange rate passes the weekly PP at 0.6834, the next target for bearish traders will be at a support level set by the weekly S1 at 0.6775 in the nearest future.

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