NZD/USD two scenarios likely - Technical Analysis - Dukascopy Bank
Mon, 21 Dec 2020 08:25:28 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
25%
29%
-14.0%
Shorts
75%
71%
4.7%
Indicator
4H
1D
1W
MACD(12;26;9)
Buy
Buy
Buy
RSI(14)
Neutral
Neutral
Sell
Stochastic(5;3;3)
Neutral
Neutral
Sell
Alligator(13;8;5)
Neutral
Buy
Buy
SAR(0.02;0.2)
Sell
Buy
Buy
Aggregate
⇒
⇗
⇒
The New Zealand Dollar has declined by 110 basis points or 1.54% against the US Dollar since Friday's trading session. The currency pair breached the lower boundary of an ascending channel pattern at 0.7068 during the London trading session on Monday.
Everything being equal, the exchange rate could continue to edge lower within the following trading session. The potential target for bears would be at the weekly S2 at 0.7003.
However, technical indicators flash buying signals on the daily time-frame chart. Most likely, a possible upside movement could occur later in the trading day.
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