NZD/USD two scenarios likely - Technical Analysis - Dukascopy Bank
Mon, 12 Oct 2020 08:03:44 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
57%
54%
5.1%
Shorts
43%
46%
-6.6%
Indicator
4H
1D
1W
MACD(12;26;9)
Buy
Sell
Buy
RSI(14)
Neutral
Neutral
Neutral
Stochastic(5;3;3)
Sell
Neutral
Neutral
Alligator(13;8;5)
Buy
Sell
Buy
SAR(0.02;0.2)
Buy
Buy
Sell
Aggregate
⇗
⇒
⇒
The New Zealand Dollar rose by 65 basis points or 0.99% against the US Dollar on Friday. The currency pair breached the upper boundary of an ascending channel pattern at 0.6667 during Friday's trading session.
Everything being equal, the NZD/USD exchange rate could continue to edge higher during the following trading session. A breakout through the upper line of the channel pattern might occur.
However, if the ascending channel holds, bears could pressure the currency exchange rate lower towards the 50-, 100– and 200– hour SMAs at 0.6619 within this session.
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