NZD/USD finds support at 100-hour SMA

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

Positions Today Yesterday % Change
Longs 63% 53% 15.87%
Shorts 37% 47% -27.03%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Sell Sell
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Buy Buy Neutral
Alligator (13; 8; 5) Buy Sell Sell
SAR (0.02; 0.2) Buy Buy Sell
Aggregate

The New Zealand Dollar was testing the upper boundary of the junior channel for several hours yesterday. This line proved to be a strong resistance which subsequently sent the Kiwi for a decline down to the 55– and 100-hour SMAs. 

The dotted line on the chart demonstrates the diminishing trading range within the junior channel itself. Thus, the following trading hours will show if it holds the pair - together with the 100-hour SMA. 

The rate's upward movement during the past two weeks suggests that the rate could eventually break out to the upside. The senior channel might be reached by mid-Monday already. That would locate the Kiwi near the monthly PP at 0.6983 at the time.

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