NZD/USD likely to edge higher - Technical Analysis - Dukascopy Bank

Mon, 28 Dec 2020 09:42:24 GMT
Source: Dukascopy Bank SA
 
PositionsTodayYesterdayChange
Longs32%36%-13.1%
Shorts68%64%6.2%
Indicator4H1D1W
MACD(12;26;9)BuyBuyBuy
RSI(14)NeutralNeutralSell
Stochastic(5;3;3)NeutralNeutralSell
Alligator(13;8;5)BuyBuyBuy
SAR(0.02;0.2)BuySellBuy
Aggregate

The New Zealand Dollar is currently trading in a narrow ascending channel pattern against the US Dollar. The currency pair has surged by 57 points or 0.81% since December 24.

All things being equal, the exchange rate could continue to edge higher during the following trading session. A breakout through the upper boundary of an ascending channel pattern could occur.

However, if the channel pattern holds, a decline towards the 50– and 200– hour SMAs at 0.7103 could be expected within this session.


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