NZD/USD retreat meets support

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

Positions Today Yesterday % Change
Longs 38% 33% 13.16%
Shorts 62% 67% -8.06%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Buy Sell
RSI (14) Neutral Sell Neutral
Stochastic (5; 3; 3) Sell Sell Sell
Alligator (13; 8; 5) Buy Buy Neutral
SAR (0.02; 0.2) Sell Buy Buy
Aggregate

As it was forecast the New Zealand Dollar extended its gains until it finally reached the next resistance level against the Greenback. Namely, the pair changed its direction after meeting various resistance levels just above the 0.73 mark. 

The move resulted in a decline, which took the form of a junior descending channel. However, by the middle of Tuesday's trading the pair had reached the support line of a medium sized ascending channel pattern. Afterwards it began a rebound, which was slowed down by the 55-hour simple moving average.  

In general, if the 55-hour SMA is passed, the pair should continue the ascent and make an attempt to break above the 0.73 level.

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