NZD/USD continues to maintain pattern

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

Positions Today Yesterday % Change
Longs 38% 41% -7.89%
Shorts 62% 59% 4.84%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Sell Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Sell Neutral Buy
Alligator (13; 8; 5) Sell Sell Buy
SAR (0.02; 0.2) Buy Sell Buy
Aggregate

The New Zealand Dollar has maintained its gradual move upwards against the Greenback. The currency pair has continued to be trading in the junior ascending channel. 

Following a breakout from the SMAs and the weekly PP, the pair could be heading for a re-test of the lower boundary of the uptrend pattern.

Everything being equal, the Kiwi is likely to rally against the US Dollar in the short-term future until it finds resistance set by the monthly R1 at 0.7308. However, traders have to be cautious as technical indicators suggest another situation. It indicates that bears are likely to grow stronger within the following session.

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