NZD/USD potential breakout

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

 Positions Today Yesterday Change
 Longs 50% 52% -4.5%
 Shorts 50% 48% 4.4%
       
 Indicator 4H 1D 1W
 MACD(12;26;9) Sell Sell Buy
 RSI(14) Neutral Neutral Neutral
 Stochastic(5;3;3) Neutral Buy Neutral
 Alligator(13;8;5) Sell Sell Buy
 SAR(0.02;0.2) Buy Sell Buy
 Aggregate

The New Zealand Dollar has been moving in a horizontal channel pattern against the US Dollar. The currency pair tested the lower boundary of the channel pattern at 0.6733 on Friday.

Technical indicators demonstrate that the currency exchange rate is likely to edge lower within this session. If this technical sentiment is correct, a breakout through the lower boundary of the horizontal channel pattern could be expected within this session.

Although, the NZD/USD exchange rate could reverse from the current price level and aim for a resistance cluster at 0.6795.

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