GBP/NZD 1H Chart: Guided by SMAs

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

Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Sell Buy
RSI (14) Buy Buy Neutral
Stochastic (5; 3) Neutral Buy Buy
Alligator (13; 8; 5) Sell Sell Buy
SAR (0.02; 0.2) Sell Sell Sell
Aggregate

The bearish sentiment which began mid-May has guided the British Pound down against the New Zealand Dollar. This marks a 3.80% decrease in price within the last two weeks.

A strong resistance cluster set by the 100– hour simple moving average and the weekly pivot point at 1.9230 has pushed the exchange rate further south. it seems that this may point to a continuous decline for the pair.

Meanwhile, technical indicators flash bullish momentum during the following week, thus indicating that some upward correction is likely to occur next week. The pair has to surpass the monthly S2 at 1.90 before such corrective moves happen.  

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