NZD/USD 1H Chart: Channel Down

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
A sharp retreat of NZD/USD inside a 69-bar long downward sloping tunnel was a confirmation that a rally to a three-year high of 0.8839 early July was excessive.
Right now the pair is attempting to halt its losing streak – the instrument has already jumped above the upper trend-line and is likely to try to consolidate above this level in the hours to come. However, the success of this endeavour is uncertain since market players fail to express a unified view – the proportion of long positions on the SWFX is 54%, while the proportion of the short ones does not differ much, being at 46%.
© Dukascopy Bank SA
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