NZD/USD awaits Q3 CPI

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

Positions Today Yesterday % Change
Longs 48% 42% 12.50%
Shorts 52% 58% -11.54%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Sell Buy
RSI (14) Sell Neutral Neutral
Stochastic (5; 3; 3) Buy Sell Sell
Alligator (13; 8; 5) Buy Sell Neutral
SAR (0.02; 0.2) Buy Buy Sell
Aggregate

Upside risks keep pressuring NZD/USD northwards for the third consecutive trading session. The rate surged up to the 0.7194 mark following a disappointing US data release mid-Friday. Subsequently, the rate made a minor correction but still managed to reach the above peak once again on Monday. 

It is expected that the rate could lose strength in the upcoming hours and subsequently push down to the 55-hour SMA and the weekly PP circa 0.7145. 

It should be noted that New Zealand is to publish its CPI for the Q3 of 2017. Traders are expecting positive results which might push the rate towards the weekly R1 at 0.7232.

However, sluggish data should result in the Kiwi testing the aforementioned support or even the 100– and 200-hour SMA near 0.7120.

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