NZD/USD breakout occurs - Technical Analysis - Dukascopy Bank
Mon, 07 Dec 2020 09:05:51 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
26%
30%
-13.6%
Shorts
74%
70%
4.9%
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)
Neutral
Buy
Buy
SAR(0.02;0.2)
Sell
Sell
Buy
Aggregate
⇒
⇒
⇒
The New Zealand Dollar declined by 39 points or 0.55% against the US Dollar on Friday. A breakout occurred through the lower boundary of an ascending channel pattern during the London open on Monday.
Given that a breakout has occurred, the NZD/USD exchange rate could continue to decline during the following trading session. The potential target for bears would be near the weekly S1 at 0.6995.
On the other hand, the currency exchange rate could reverse from the current price level at 0.7023 and slide higher within this session.
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