NZD/USD breakout occurs - Technical Analysis - Dukascopy Bank
Wed, 30 Dec 2020 08:35:37 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
26%
31%
-18.8%
Shorts
74%
69%
6.7%
Indicator
4H
1D
1W
MACD(12;26;9)
Buy
Buy
Buy
RSI(14)
Sell
Sell
Sell
Stochastic(5;3;3)
Sell
Sell
Sell
Alligator(13;8;5)
Buy
Buy
Buy
SAR(0.02;0.2)
Buy
Buy
Buy
Aggregate
⇒
⇒
⇒
The New Zealand Dollar has surged by 78 pips or 1.09% against the US Dollar since Tuesday's trading session. A breakout occurred through the upper line of an ascending channel pattern on Wednesday.
Given that a breakout had occurred, bullish traders are likely to continue to pressure the currency pair higher during the following trading session. The potential target will be at 0.7250.
However, the weekly R2 at 0.7198 could provide resistance for the NZD/USD currency exchange rate during the following trading session.
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