NZD/USD breakout from dominant channel

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

Positions Today Yesterday % Change
Longs 38% 38% 0.00%
Shorts 62% 62% 0.00%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Buy Buy
RSI (14) Neutral Sell Neutral
Stochastic (5; 3; 3) Sell Sell Sell
Alligator (13; 8; 5) Neutral Buy Buy
SAR (0.02; 0.2) Sell Buy Buy
Aggregate

The New Zealand Dollar continued to decline against the US Dollar since it touched the resistance level at 0.7440 on Wednesday at 22:00 GMT. 

As expected, the Kiwi breached the dominant channel's upper trend line and slowly gained strength against the US Dollar. By the middle of Monday's session, the 200—hour simple moving average was providing support at 0.7326. 

Regarding the short-term future, the bulls are likely to take over the pair and retrace north. If and when this occurs, the movement might find resistance at the weekly pivot point level at 0.7356.

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