NZD/USD two scenarios likely

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Source: Dukascopy Bank SA
PositionsTodayYesterdayChange
Longs41%33%21.4%
Shorts59%68%-15.1%
Indicator4H1D1W
MACD(12;26;9)BuyBuyBuy
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralNeutralNeutral
Alligator(13;8;5)BuyBuyBuy
SAR(0.02;0.2)BuyBuyBuy
Aggregate⇗⇗⇗

[ANNOUNCE]The New Zealand Dollar declined by 25 points or 0.38% against the US Dollar on Thursday. The decline was stopped by the weekly support level at 0.6507 during yesterday's trading session. [/ANNOUNCE]

If the support level holds, bullish traders will most likely continue to pressure the exchange rate higher within this session.

But, if the NZD/USD currency pair breaks the support level, a decline towards the 0.6480 could be expected today.

However, technical indicators suggest buying pressure on both the smaller and the larger time-frame charts.

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