NZD/USD two scenarios likely

Note: This section contains information in English only.
Source: Dukascopy Bank SA
PositionsTodayYesterdayChange
Longs34%41%-21.3%
Shorts66%59%10.8%
Indicator4H1D1W
MACD(12;26;9)SellBuyBuy
RSI(14)BuyNeutralNeutral
Stochastic(5;3;3)BuyBuyNeutral
Alligator(13;8;5)SellNeutralBuy
SAR(0.02;0.2)SellSellBuy
Aggregate⇒⇒⇗

[ANNOUNCE]The New Zealand Dollar has declined by 91 points or 1.36% against the US Dollar since Tuesday's trading session. The currency pair tested the weekly S2 at 0.6597 on Wednesday morning.[/ANNOUNCE]

Currently, the exchange rate is trading near the lower boundary of a descending channel and could be set for a breakout.

If the breakout occurs, bearish traders are likely to dominate the rest of Wednesday's trading session.

However, if the channel pattern holds, the currency exchange rate could make a brief retracement towards the 50– hour SMA at 0.6661 today.

Actual Topics