NZD/USD could continue to edge up - Technical Analysis - Dukascopy Bank
Wed, 25 Nov 2020 09:51:05 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
26%
26%
-1.7%
Shorts
74%
74%
0.6%
Indicator
4H
1D
1W
MACD(12;26;9)
Buy
Buy
Buy
RSI(14)
Neutral
Sell
Sell
Stochastic(5;3;3)
Neutral
Neutral
Sell
Alligator(13;8;5)
Buy
Buy
Buy
SAR(0.02;0.2)
Buy
Buy
Buy
Aggregate
⇗
⇗
⇒
The New Zealand Dollar soared by 81 points or 1.17% against the US Dollar on Tuesday. The 50– hour simple moving average provided support for the currency pair during yesterday's trading session.
All things being equal, the exchange rate could continue to edge up during the following trading session. The possible target for bullish traders would be near the weekly R2 at 0.7014.
However, if the currency exchange rate breaks a support line formed by the 50– hour SMA at 0.6959, the next target for bears would be at the 0.6920 level.
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