NZD/USD: Bearish sentiment likely to continue

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

Positions Today Yesterday % Change
Longs 62% 60% 3.23%
Shorts 38% 40% -5.26%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Sell Sell
RSI (14) Buy Neutral Neutral
Stochastic (5; 3; 3) Buy Buy Neutral
Alligator (13; 8; 5) Sell Sell Sell
SAR (0.02; 0.2) Sell Sell Sell
Aggregate

Downside risks dominated the NZD/USD currency pair on Monday, thus allowing the pair to breach a medium-term descending channel.  

Bearish momentum is expected to continue within this session, and the potential target for the currency exchange rate could be a support cluster formed by the weekly S2 and the monthly S1 near the 0.6480. 

It is the unlikely case that some bullish pressure still prevails in the market, the New Zealand Dollar should not exceed the 55-hour SMA at the 0.6604 mark.

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