NZD/USD trades in indecisive market

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

Positions Today Yesterday % Change
Longs 59% 44% 25.42%
Shorts 41% 56% -36.59%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Buy Sell
RSI (14) Neutral Sell Neutral
Stochastic (5; 3; 3) Buy Buy Sell
Alligator (13; 8; 5) Buy Buy Sell
SAR (0.02; 0.2) Buy Buy Buy
Aggregate

The New Zealand Dollar increased gradually against the US Dollar on Friday. The given session, however, was closed with a slight 4-pip gain. Further increase was restricted by the 0.7180 area which is also a new three-month high. This resistance area is formed by the 50.0% Fibonacci retracement and the upper boundary of an ascending channel valid since late May.

It seems that the current period of consolidation could point to a soon price decline. However, technical indicators suggest that this move is more likely to occur during the second half of this week. 

In terms of today, the Kiwi is supported by the 55-hour SMA that could provide an unbreakable support, especially taking into account the lack of significant fundamentals. A possible upside target might be the weekly and monthly R1s located at 0.7220.

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