NZD/USD breaks channel

Note: This section contains information in English only.
Source: Dukascopy Bank SA
PositionsTodayYesterdayChange
Longs32%49%-52.5%
Shorts68%51%24.8%
Indicator4H1D1W
MACD(12;26;9)BuySellBuy
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralSellNeutral
Alligator(13;8;5)BuyNeutralBuy
SAR(0.02;0.2)BuyBuySell
Aggregate

The New Zealand Dollar declined by 30 points or 0.45% against the US Dollar on Wednesday. A breakout through the lower boundary of an ascending channel pattern occurred on Thursday morning.

Given that a breakout had occurred, bearish traders could continue to pressure the NZD/USD exchange rate lower during the following trading session. The potential target will be at the weekly S1 at 0.6582.

However, a support cluster formed by the 200– hour simple moving average and the weekly pivot point at 0.6627 could provide support for the currency exchange rate in the shorter term.

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