NZD/USD remains stranded between three SMAs

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

Positions Today Yesterday % Change
Longs 58% 57% 1.72%
Shorts 42% 43% -2.38%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Sell Sell
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Neutral Sell Sell
Alligator (13; 8; 5) Sell Sell Sell
SAR (0.02; 0.2) Buy Sell Sell
Aggregate

After testing the 0.6820 mark early on Friday, the prevailing upside risks pushed the New Zealand Dollar for a 78-pip appreciation against the US Dollar. This positioning did not hold for long, as the rate began trading between the 200-, 100– and 55-hour SMAs during most of today's session. 

In general, the dominant pattern remains the three-week ascending channel. As apparent on the chart, the bottom boundary of this formation was not yet reached. 

This suggests that the Kiwi might still weaken against its American counterpart, setting the 0.6830 mark as a near-term target for this week. This scenario is the most likely option, as the combined resistance of the 100– and 200-hour SMAs and the weekly PP circa 0.6880 could introduce some changes to the pair's movement upwards.

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