NZD/USD reveals triangle pattern

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

Positions Today Yesterday % Change
Longs 35% 32% 8.57%
Shorts 65% 68% -4.62%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Buy Buy
RSI (14) Neutral Neutral 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 continues to trade in line with expectations against the US Dollar. The pair not only recently rebounded against one trend line on Wednesday, it also bounced off the resistance of another long term trend line near midnight. As a result of the recent fluctuations of the pair, one can spot an ascending triangle pattern in the currency exchange rate's hourly chart. Taking into account this fact, it can be expected that the pair will break out to the upside in the future. However, the main concert for the next 24 hours will be whether the pair will rebound or not against the support cluster between the 0.7260 and 0.7270 levels. The cluster consists of the weekly PP, the before mentioned support trend line and the 200-hour SMA.

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