NZD/USD narrow ascending channel prevails

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Source: Dukascopy Bank SA
PositionsTodayYesterdayChange
Longs43%44%-1.4%
Shorts57%56%1.1%
Indicator4H1D1W
MACD(12;26;9)BuySellBuy
RSI(14)SellNeutralNeutral
Stochastic(5;3;3)SellSellNeutral
Alligator(13;8;5)BuySellBuy
SAR(0.02;0.2)BuySellBuy
Aggregate⇒⇓⇗

[ANNOUNCE]The New Zealand Dollar appreciated about 49 base points against the US Dollar on Monday. The currency pair revealed a new junior ascending channel pattern during the end of yesterday's trading session.[/ANNOUNCE]

As for the near future, it is likely that the junior ascending channel pattern will guide the currency exchange rate towards a swing high of 0.6904 during the following trading session.

However, technical indicators flash strong sell signals on the daily time frame chart. Therefore, a decline towards a support level formed by the 50-hour simple moving average at 0.6811 could be expected within this session.

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