NZD/USD bears likely to grow stronger

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

Positions Today Yesterday % Change
Longs 55% 53% 3.64%
Shorts 45% 47% -4.44%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Sell Sell
RSI (14) Buy Neutral Neutral
Stochastic (5; 3; 3) Neutral Buy Neutral
Alligator (13; 8; 5) Sell Sell Sell
SAR (0.02; 0.2) Sell Sell Sell
Aggregate

 Even though the New Zealand Dollar decreases its trading range against the US Dollar during the previous session, the exchange rate failed to make a substantial move down due to a support cluster set by the combination of the weekly and the monthly PPs near the 0.6886 mark.

However, that situation changed on Wednesday, as the support cluster was unable to hold firmly thus sending the exchange rate to dashed through the aforementioned support level.

The overall market sentiment is bearish. Meanwhile, technical indicators suggest that bears are likely to grow stronger during the following trading session.  

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