NZD/USD breached channel pattern - Technical Analysis - Dukascopy Bank
Mon, 19 Oct 2020 08:02:43 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
37%
45%
-21.0%
Shorts
63%
55%
12.5%
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)
Sell
Sell
Buy
SAR(0.02;0.2)
Buy
Buy
Sell
Aggregate
⇒
⇒
⇒
The New Zealand Dollar rose by 28 pips or 0.42% against the US Dollar on Friday. The currency pair tested the upper line of a descending channel pattern at 0.6623 on Monday morning.
If the descending channel holds, bears could pressure the NZD/USD exchange rate lower during the following trading session. Bearish traders could target the 0.658 level.
However, if the currency exchange rate breaks the channel pattern, a surge towards the weekly R1 at 0.6662 could be expected today.
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