NZD/USD expected to slide lower

Note: This section contains information in English only.
Source: Dukascopy Bank SA
PositionsTodayYesterdayChange
Longs62%59%4.7%
Shorts38%41%-7.7%
Indicator4H1D1W
MACD(12;26;9)BuySellSell
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)SellSellNeutral
Alligator(13;8;5)BuyNeutralSell
SAR(0.02;0.2)BuySellBuy
Aggregate⇗⇘⇒

[ANNOUNCE]The New Zealand Dollar surged by 62 basis points or 1.02% against the US Dollar on Wednesday. A breakout occurred through the upper boundary of a dominant descending channel pattern during Thursday's trading session. [/ANNOUNCE]

Given that a breakout had occurred, bullish traders would continue to pressure the exchange rate higher within this session. The possible target for the NZD/USD pair would be at 0.6185.

Although, the currency exchange rate is expected to make a brief pullback towards the 50– hour simple moving average at 0.6087 today.

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