Forex: NZD/USD surge after Federal Fund rate

5 years ago - Published by Dukascopy in Forex

Upside momentum pressured the New Zealand Dollar higher against the US Dollar on Wednesday. The reason for the surge was mostly related to the US FOMC meeting. The currency pair gained about 107 base points during yesterday’s trading session.

Most likely, bears could drag the exchange rate towards the weekly pivot point at 0.6885 within this session.

If the support level holds, the currency exchange rate will continue its movement in the medium-term ascending channel during the following trading session.

Meanwhile, technical indicators flash buy signals on both the smaller and the larger time frames chart.


PositionsTodayYesterdayChange
Longs36%36%0.5%
Shorts64%64%-0.3%
Indicator4H1D1W
MACD(12;26;9)BuyBuyBuy
RSI(14)SellNeutralNeutral
Stochastic(5;3;3)NeutralNeutralNeutral
Alligator(13;8;5)BuyBuyBuy
SAR(0.02;0.2)BuyBuyBuy
Aggregate⇗⇗⇗
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