NZD/USD increases trading range

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

Positions Today Yesterday % Change
Longs 50% 57% -14.00%
Shorts 50% 43% 14.00%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Sell Sell
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Sell Neutral Neutral
Alligator (13; 8; 5) Buy Sell Sell
SAR (0.02; 0.2) Buy Buy Sell
Aggregate

Even though the New Zealand Dollar increases its trading range against the US Dollar during the previous session, the currency pair failed to make a substantial move up due to the weekly resistance level at 0.70.

The NZD/USD exchange rate moved above the 55-, 100-, and 200– hour SMAs and was located near the 0.70 area which was the previously mentioned weekly pivot point. 

The overall market sentiment is bearish. Meanwhile, technical indicators suggest that bears are likely to grow stronger during the following trading session. If and when this happens, it could find support at the SMAs.

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