NZD/USD bounces off support - Technical Analysis - Dukascopy Bank
Wed, 16 Dec 2020 09:28:41 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
26%
29%
-14.8%
Shorts
74%
71%
5.1%
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 NZD/USD currency pair bounced off from a support level formed by the 200– hour simple moving average at 0.7063 on Tuesday. As a result, the New Zealand Dollar has surged by 58 basis points or 0.82% against the US Dollar since yesterday's trading session.
Everything being equal, the exchange rate could continue to edge higher during the following trading session. The potential target for bullish traders would be near the 0.7160 level.
However, the weekly R1 at 0.7129 could provide resistance for the currency exchange rate today.
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