NZD/USD two scenarios likely - Technical Analysis - Dukascopy Bank
Mon, 05 Oct 2020 07:58:09 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
53%
52%
1.3%
Shorts
47%
48%
-1.5%
Indicator
4H
1D
1W
MACD(12;26;9)
Buy
Sell
Buy
RSI(14)
Neutral
Neutral
Neutral
Stochastic(5;3;3)
Neutral
Sell
Neutral
Alligator(13;8;5)
Buy
Neutral
Buy
SAR(0.02;0.2)
Sell
Sell
Sell
Aggregate
⇒
⇘
⇒
The New Zealand Dollar declined by 30 pips or 0.45% against the US Dollar on Friday. The currency pair breached the 50– hour simple moving average during Friday's trading session.
Everything being equal, the NZD/USD exchange rate could continue to decline during the following trading session. A breakout through the lower boundary of a descending channel pattern could occur.
However, if the channel pattern holds, bullish traders are likely to pressure the currency exchange rate higher within this session.
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