NZD/USD faces strong support

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

There are more than few developments on the NZD/USD currency pair. 

First of all the pair has broken a notable resistance level. The resistance of the upper trend line of the previously drawn junior channel down pattern was passed.

However, main attention should be attracted to the fact that the pair is approaching an important support level. The medium scale's ascending channel's lower trend line is located at the 0.70 mark. In addition it is supported by the 100 and 200-hour simple moving averages. 

If that support gets passed, the next target will be the 0.6960 mark, where a Fibonacci retracement level is located at.

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