NZD/USD surge stopped by monthly PP

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

Positions Today Yesterday % Change
Longs 32% 34% -6.25%
Shorts 68% 66% 2.94%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Buy Buy
RSI (14) Sell Neutral Neutral
Stochastic (5; 3; 3) Sell Sell Sell
Alligator (13; 8; 5) Buy Buy Buy
SAR (0.02; 0.2) Buy Buy Buy
Aggregate

The Kiwi continues to surge against the Greenback for the second trading day in a roll. However, the surge was stopped by a resistance cluster near 0.7437.  

It is likely that the New Zealand Dollar is tended south within the following session. This movement, however, might be hindered by the 55-hour SMA at 0.7374. 

In general, it is expected that NZD/USD could continue to decline until the 55– hour simple moving average provides support for the currency pair to move back north. In addition, traders should look for opportunities to trade in if the aforementioned situation occur.

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