NZD/USD breaks channel pattern - Technical Analysis - Dukascopy Bank
Fri, 06 Nov 2020 08:12:54 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
29%
28%
3.8%
Shorts
71%
72%
-1.5%
Indicator
4H
1D
1W
MACD(12;26;9)
Buy
Buy
Buy
RSI(14)
Sell
Neutral
Neutral
Stochastic(5;3;3)
Sell
Sell
Neutral
Alligator(13;8;5)
Buy
Buy
Buy
SAR(0.02;0.2)
Buy
Buy
Sell
Aggregate
⇒
⇗
⇒
The New Zealand Dollar has surged by 104 basis points or 1.56% against the US Dollar since Thursday's trading session. The currency pair breached the upper line of an ascending channel pattern at 0.6797 on Friday morning.
Given that the exchange rate has beached the channel pattern, bullish traders are likely to continue to pressure the NZD/USD pair higher within this session. The potential target would be at the 0.6850 level.
However, the weekly R3 at 0.6817 could provide a barrier for the currency exchange rate during the following trading hours.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information, please call us or make callback request.
For further information regarding potential cooperation, please call us or make callback request.
To learn more about Dukascopy Bank Binary Options
/ Forex trading platform, SWFX and other trading related information, please call us or make callback request.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information, please call us or make callback request.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information, please call us or make callback request.
To learn more about Business Introducer and other trading related information, please call us or make callback request.
For further information regarding potential cooperation, please call us or make callback request.