NZD/USD tests weekly PP

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

Positions Today Yesterday % Change
Longs 59% 61% -3.39%
Shorts 41% 39% 4.88%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Sell Sell
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Sell Neutral Sell
Alligator (13; 8; 5) Neutral Sell Sell
SAR (0.02; 0.2) Buy Sell Sell
Aggregate

As apparent on the chart, the New Zealand Dollar was guided entirely by the 100-hour SMA and the weekly PP during the last session. Apart from a minor false breakout, the rate remained within these two barriers since mid-Tuesday.  

In addition, the Kiwi was testing the junior channel during the first half of Wednesday. However, the steepness of this pattern suggests that a breakout north should occur in the nearest time. 

Given that the southern barrier is also reinforced by the 55-hour SMA, the rate might be reluctant to move past this are and thus push upwards. A possible upside target is the 200-hour SMA. 

Conversely, there are no major levels liming the pair in case support is breached.

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