NZD/USD breakout occurs - Technical Analysis - Dukascopy Bank

Thu, 10 Dec 2020 08:47:26 GMT
Source: Dukascopy Bank SA
 
PositionsTodayYesterdayChange
Longs30%30%0.6%
Shorts70%70%-0.3%
Indicator4H1D1W
MACD(12;26;9)SellBuyBuy
RSI(14)NeutralSellSell
Stochastic(5;3;3)NeutralNeutralSell
Alligator(13;8;5)SellBuyBuy
SAR(0.02;0.2)BuySellBuy
Aggregate

Downside risks dominated the New Zealand Dollar against the US Dollar on Wednesday. As a result, a breakout occurred through the lower boundary of an ascending channel pattern.

Given that a breakout has occurred, the currency pair could continue to decline during the following trading session. The possible target for bearish traders would be near the weekly support level at 0.7000.

However, if the exchange rate breaks a resistance cluster formed by the 50-, 100– and 200– hour SMAs, a surge towards the 0.7080 level within the following trading session.


Back to feed
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.