Positions | Today | Yesterday | % Change | |
Longs | 61% | 54% | 11.48% | |
Shorts | 39% | 46% | -17.95% | |
Indicator | 4H | 1D | 1W | |
MACD (12; 26; 9) | Buy | Sell | Sell | |
RSI (14) | Neutral | Neutral | Neutral | |
Stochastic (5; 3; 3) | Sell | Sell | Sell | |
Alligator (13; 8; 5) | Buy | Sell | Sell | |
SAR (0.02; 0.2) | Buy | Sell | Sell | |
Aggregate | ⇗ | ⇓ | ⇓ |
The New Zealand Dollar was trading below a massive resistance area formed by the 100– and 200-hour SMAs, the weekly and monthly PPs circa 0.6865.
This strong level, however, was breached in the wake of announcing Adrian Orr as the next Governor of the Reserve Bank of New Zealand. The impact of this fundamental event was a 39 pip surge within one hour after the news, as well as a continuous increase in price even several hours later.
This up-move sent technical indicators near historic highs, suggesting that the most probable subsequent move for the pair could be a fall. The nearest support is the weekly R1 at 0.6899.
It is likewise possible that bears do not stop at this area and pushes the Kiwi lower, thus setting the 0.6865 mark as a session low.