NZD/USD two scenarios are likely

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

Positions Today Yesterday % Change
Longs 55% 49% 10.91%
Shorts 45% 51% -13.33%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Sell Sell
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Neutral Neutral Neutral
Alligator (13; 8; 5) Buy Neutral Sell
SAR (0.02; 0.2) Buy Buy Sell
Aggregate

The price movement of the NZD/USD currency pair during the last one week has been guided by a medium-term channel. The exchange rate was supported by the 100– hour simple moving average at 0.69.

Two scenarios are possible in this situation. First, a breakout through the upper boundary should result in a short-term rally toward the 0.70 which is the monthly resistance level.

Second, the currency exchange rate might still diminish its trading range between the aforementioned support level until a new wave south prevail and start a long-term decline.

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