Positions | Today | Yesterday | % Change | |
Longs | 44% | 37% | 15.91% | |
Shorts | 56% | 63% | -12.50% | |
Indicator | 4H | 1D | 1W | |
MACD (12; 26; 9) | Sell | Buy | Buy | |
RSI (14) | Neutral | Neutral | Neutral | |
Stochastic (5; 3; 3) | Sell | Sell | Sell | |
Alligator (13; 8; 5) | Sell | Buy | Buy | |
SAR (0.02; 0.2) | Sell | Buy | Buy | |
Aggregate | ⇓ | ⇗ | ⇗ |
The NZD/USD exchange rate remained stable on Monday, being located right below the 200-hour SMA and the monthly PP for the whole trading session.
The rate tested the bottom boundary of the senior channel early on Tuesday, and it was expected that the Kiwi would reverse to the upside. The weekly S1, however, proved to be an unbreakable resistance that led the pair for a plunge down to the lower barrier of the junior channel.
Technical indicators are located at or near their historic lows and, taking into account that the next support is the relatively distant weekly S2 at 0.7156 , traders could see a reversal near this junior channel line. The upside target is the 0.7240 mark, reinforced by the weekly S1 and the 23.6% Fibo.