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.