NZD/USD bounces off support - Technical Analysis - Dukascopy Bank
Thu, 08 Oct 2020 08:38:49 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
49%
49%
-1.1%
Shorts
51%
51%
1.0%
Indicator
4H
1D
1W
MACD(12;26;9)
Sell
Sell
Buy
RSI(14)
Neutral
Neutral
Neutral
Stochastic(5;3;3)
Neutral
Neutral
Neutral
Alligator(13;8;5)
Neutral
Sell
Buy
SAR(0.02;0.2)
Sell
Sell
Sell
Aggregate
⇘
⇘
⇒
The New Zealand Dollar declined by 30 pips or 0.46% against the US Dollar on October 7. The currency pair breached the weekly support level at 0.6568 on Thursday morning.
The exchange rate bounced from the 0.6540 area during the London session on Thursday. Most likely, the NZD/USD pair could continue to edge higher during the following trading hours.
However, the 50– hour simple moving average at 0.6597 could provide resistance for the currency exchange rate in the short-term.
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