NZD/USD decline to continue - Technical Analysis - Dukascopy Bank
Tue, 20 Oct 2020 08:47:48 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
45%
37%
16.6%
Shorts
55%
63%
-13.4%
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 declined by 57 points or 0.85% against the US Dollar on Monday. The currency pair breached the 50-, 100– and 200– hour SMAs during yesterday's trading session.
As for the near future, the NZD/USD exchange rate could continue to edge lower. Bearish traders are likely to target the 0.6500 level during the following trading session.
However, the weekly support level at 0.6557 could provide support for the currency exchange rate in the shorter term.
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