NZD/USD could continue to decline - Technical Analysis - Dukascopy Bank
Mon, 02 Nov 2020 08:20:38 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
36%
30%
17.6%
Shorts
64%
70%
-9.9%
Indicator
4H
1D
1W
MACD(12;26;9)
Sell
Sell
Buy
RSI(14)
Neutral
Neutral
Neutral
Stochastic(5;3;3)
Neutral
Buy
Neutral
Alligator(13;8;5)
Sell
Sell
Buy
SAR(0.02;0.2)
Sell
Sell
Sell
Aggregate
⇘
⇘
⇒
The New Zealand Dollar declined by 72 points or 1.08% against the US Dollar on Friday. The currency pair reversed from the upper line of a descending channel pattern during Friday's trading session.
Everything being equal, the NZD/USD exchange rate could continue to edge lower during the following trading session. The possible target for bearish traders would be at the 0.6550 level.
However, the weekly S2 at 0.6592 could provide support for the currency exchange rate in the shorter term.
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