NZD/USD breaks channel - Technical Analysis - Dukascopy Bank
Thu, 15 Oct 2020 08:13:11 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
32%
49%
-52.5%
Shorts
68%
51%
24.8%
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)
Buy
Buy
Sell
Aggregate
⇗
⇒
⇒
The New Zealand Dollar declined by 30 points or 0.45% against the US Dollar on Wednesday. A breakout through the lower boundary of an ascending channel pattern occurred on Thursday morning.
Given that a breakout had occurred, bearish traders could continue to pressure the NZD/USD exchange rate lower during the following trading session. The potential target will be at the weekly S1 at 0.6582.
However, a support cluster formed by the 200– hour simple moving average and the weekly pivot point at 0.6627 could provide support for the currency exchange rate in the shorter term.
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