NZD/USD bulls likely to prevail - Technical Analysis - Dukascopy Bank
Wed, 02 Dec 2020 08:48:49 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
28%
29%
-4.1%
Shorts
72%
71%
1.6%
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)
Sell
Buy
Buy
Aggregate
⇒
⇗
⇒
The New Zealand Dollar surged by 52 pips or 0.75% against the US Dollar on Tuesday. The currency pair tested the weekly resistance level at 0.7070 during yesterday's trading session.
All things being equal, the exchange rate is likely to continue to edge higher during the following trading session. A breakout through the upper boundary of an ascending channel pattern could occur.
However, if the channel pattern holds, bearish traders might pressure the currency exchange rate lower during the following trading session.
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