NZD/USD surges up to 0.6980

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

Positions Today Yesterday % Change
Longs 54% 54% 0.00%
Shorts 46% 46% 0.00%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Sell Sell
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Sell Sell Sell
Alligator (13; 8; 5) Buy Neutral Sell
SAR (0.02; 0.2) Buy Buy Sell
Aggregate

The New Zealand Dollar has been appreciating gradually against the US Dollar during the past two trading sessions. As apparent on the chart, the pair was struggling to move past the weekly R2 at 0.6955 two times. 

This was done mid-session when the rate surged 39 pips in the wake of the US CPI data release, thus resulting in a test of the upper channel boundary circa 0.6980. Given that the weekly R3 is also located nearby, the given area might mark a reversal. 

Technical indicators suggest that the pair might continue trading in the aforementioned channel. Thus, the rate should try to approach the 55-hour SMA or even lower down to the 100– and 200-hour SMAs circa 0.6890. 

Meanwhile, the Federal Reserve is set to release various fundamentals today at 1900GMT and 1930GMT.

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