NZD/USD bounces off support level

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

 Positions Today Yesterday Change
 Longs 51% 47% 7.8%
 Shorts 49% 53% -8.2%
       
 Indicator 4H 1D 1W
 MACD(12;26;9) Sell Sell Buy
 RSI(14) Sell Neutral Neutral
 Stochastic(5;3;3) Neutral Buy Neutral
 Alligator(13;8;5) Neutral Sell Buy
 SAR(0.02;0.2) Buy Sell Buy
 Aggregate

The New Zealand Dollar depreciated about 118 base points against the US Dollar on Thursday. The currency pair revealed a new junior descending channel pattern during yesterday's trading session.

The exchange rate bounced off the bottom border of the channel pattern at 0.6760 during the Asian trading session on Friday.

Everything being equal, it is likely that bullish traders could target a resistance cluster formed by the combination of the weekly and the monthly PPs near the 0.6816 area.

A potential downside movement is likely to occur, if the cluster holds within this session.

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