NZD/USD moving towards target

Source: Dukascopy Bank SA
PositionsTodayYesterdayChange
Longs66%66%0.8%
Shorts34%34%-1.7%
Indicator4H1D1W
MACD(12;26;9)BuySellSell
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralNeutralBuy
Alligator(13;8;5)BuyNeutralSell
SAR(0.02;0.2)SellBuySell
Aggregate

The New Zealand Dollar has been trading in a one-week ascending channel pattern against the US Dollar. The currency pair tested its lower boundary at 0.6407 on Wednesday.

Thursday's session began with bullish momentum. By the middle of the European trading session, the NZD/USD exchange rate had breached both the 50– and 100– hour SMAs at 0.6429.

Given that the currency exchange rate has breached the 50– and 100– hour simple moving averages, the next target for bullish traders would be at the 0.6486 area.

Actual Topics

Subscribe to "Fundamental Analysis" feed

Subscribe
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.