NZD/USD surges to weekly R1 at 0.7340

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

Positions Today Yesterday % Change
Longs 37% 30% 18.92%
Shorts 63% 70% -11.11%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Buy Buy
RSI (14) Neutral Neutral Sell
Stochastic (5; 3; 3) Sell Sell Sell
Alligator (13; 8; 5) Sell Buy Buy
SAR (0.02; 0.2) Sell Buy Buy
Aggregate

Contrary to expectations, a recently formed downtrend did not sustain for long. Namely, in the second half of Wednesday the Kiwi has successfully left the channel in the northern direction, bypassing the 100- and 200-hour SMAs. However, a more intensive surge began in the early Thursday's morning, when the currency rate ran though the weekly PP and approached the weekly R1 at 0.7340. Most probably, the pair will a make a rebound near this resistance level and after that fall back to the above weekly PP, which by this time should be already accompanied by the all three 55-, 100- and 200-hour SMAs. This scenario is supported by various technical indicators, which suggest that the rate is overbought.

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