NZD/USD King's crown pattern

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

Positions Today Yesterday % Change
Longs 44% 44% 0.00%
Shorts 56% 56% 0.00%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Buy Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Sell Neutral Neutral
Alligator (13; 8; 5) Buy Buy Buy
SAR (0.02; 0.2) Buy Buy Sell
Aggregate

The bullish momentum has guided the New Zealand Dollar up against the US Dollar. By the middle of Monday's trading session, the currency pair has reached the 0.7305 mark.

The European session was dominated by bulls and bears. The NZD/USD exchange rate has formed a king's crown pattern which might suggest the pair could be set for a decline.

Two scenarios are likely to be in play during the following 24hrs. First, the currency exchange rate might fall further south until it finds support at a cluster set by the 55– and 100– hour SMAs near 0.7277. Second, a reverse from 0.7285 and return near the weekly R1 at 0.7331.

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