NZD/USD returns near 0.7010

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 Buy Sell
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Sell Sell Sell
Alligator (13; 8; 5) Buy Buy Sell
SAR (0.02; 0.2) Buy Buy Sell
Aggregate

After testing the 55– and 100-hour SMAs mid-Thursday, the New Zealand Dollar tried to regain its upwards momentum. The Kiwi, however, failed to push above the 0.7023 and thus returned near the aforementioned SMAs. 

This move provided another confirmation of a short-term descending channel. In line with this pattern, the pair should edge lower early next week. This scenario might not succeed in this session due to a significant cluster located circa 0.6650. The bottom channel line of a four-week channel is likewise located nearby. 

Taking all this into account, the Kiwi is more likely to either appreciate in this session or remain steady just above the above support area. The nearest resistance is located near 0.7045.

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