NZD/USD two scenarios likely - Technical Analysis - Dukascopy Bank
Wed, 21 Oct 2020 09:24:21 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
41%
45%
-9.9%
Shorts
59%
55%
6.8%
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)
Sell
Buy
Sell
Aggregate
⇘
⇒
⇒
The New Zealand Dollar rose by33 basis points or 0.50% against the US Dollar on Tuesday. The currency pair breached the 50– and 100– hour SMAs on Wednesday morning.
The exchange rate is currently trading near the upper boundary of a descending channel pattern at 0.6615.
If the channel pattern holds, bears might push the NZD/USD pair lower during the following trading session.
However, if the currency exchange rate breaks the descending channel pattern, a surge towards the 0.6662 level could be expected with this session.
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