NZD/USD allays after surge

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

Positions Today Yesterday % Change
Longs 54% 61% -12.96%
Shorts 46% 39% 15.22%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Sell Sell
RSI (14) Sell Neutral Neutral
Stochastic (5; 3; 3) Buy Sell Sell
Alligator (13; 8; 5) Buy Sell Sell
SAR (0.02; 0.2) Buy Buy Sell
Aggregate

Following the massive surge early on Monday, bears managed to regain some of their positions later in the day. Their impact, however, was not significant, as the New Zealand Dollar reversed from the 0.6909 mark and subsequently advanced even further up to the weekly R2 at 0.6955.  

The given up-move has sent technical indicators in the overbought area that could point to a possible decrease in price. In addition, the pair's positioning near the weekly R2 also adds some ground to the overall bearish sentiment. 

In case of a fall, the New Zealand Dollar would not be restricted until the distant weekly R1 at 0.6899 is reached.

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