NZD/USD breakout from sideways movement

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

Positions Today Yesterday % Change
Longs 45% 48% -6.67%
Shorts 55% 52% 5.45%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Sell Sell
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Neutral Neutral Neutral
Alligator (13; 8; 5) Sell Sell Sell
SAR (0.02; 0.2) Sell Sell Sell
Aggregate

The New Zealand Dollar spent Monday session moving sideways against the US Dollar. However, during the Asian trading session on Tuesday, a downside breakout occurred.

Given that a breakout had occurred, the NZD/USD currency pair might spend today trading south. Also, a resistance cluster formed by the 55-hour simple moving average and the weekly PP at 0.6899 has pushed the rate lower.

Technical indicators flash bearish signals; therefore, bears are likely to grow stronger during the following trading session for a potential target at the 0.6844 mark which is the weekly S1. 

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