NZD/USD bulls likely to prevail - Technical Analysis - Dukascopy Bank
Tue, 24 Nov 2020 08:48:30 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
71%
75%
-5.3%
Shorts
29%
25%
12.9%
Indicator
4H
1D
1W
MACD(12;26;9)
Sell
Sell
Sell
RSI(14)
Neutral
Neutral
Neutral
Stochastic(5;3;3)
Neutral
Neutral
Neutral
Alligator(13;8;5)
Sell
Sell
Sell
SAR(0.02;0.2)
Sell
Buy
Sell
Aggregate
⇘
⇒
⇘
The New Zealand Dollar has surged by 87 pips or 1.26% against the US Dollar since yesterday's trading session. The currency pair breached the weekly R1 at 0.6968 on Tuesday morning.
As for the near future, the NZD/USD exchange rate could continue to edge up in an ascending channel pattern. The potential target for bullish traders would be at the 0.7040 level.
However, the weekly R2 at 0.7014 could provide resistance for the currency exchange rate during the following trading session.
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