NZD/USD two scenarios likely - Technical Analysis - Dukascopy Bank
Thu, 17 Dec 2020 09:14:10 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 New Zealand Dollar versus the US Dollar bounced off from a support cluster at 0.7067 during yesterday's trading session. As a result, the NZD/USD currency pair has surged by 87 pips or 1.23% since Wednesday.
On the one hand, the exchange rate is likely to continue to surge during the following trading session. A breakout through the upper line of an ascending channel pattern could occur.
On the other hand, the weekly R2 at 0.7175 could provide resistance for the currency exchange rate and pressure the price lower during Thursday's trading session.
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