NZD/USD awaits GDP release

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

Positions Today Yesterday % Change
Longs 50% 48% 4.00%
Shorts 50% 52% -4.00%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Buy Sell
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Sell Sell Buy
Alligator (13; 8; 5) Neutral Buy Sell
SAR (0.02; 0.2) Sell Buy Sell
Aggregate

After testing the 0.7020 mark mid-Tuesday, bears took the upper hand and pushed the New Zealand Dollar down to a support cluster formed by the weekly PP and the 200-hour SMA near 0.6960. 

The pair has since managed to recover some of its daily loses. However, given that it faces a significant resistance of the 55– and 100-hour SMAs circa 0.70, this upward movement should not be long. From the downside, the Kiwi is likewise supported by the monthly R1 at 0.6948. 

Both barriers are likely to confine the rate in a range for the following 24 hours. However, this situation might change at 2145GMT when New Zealand is to release its GDP for the third quarter of 2017.

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