NZD/USD likely to maintain channel - Technical Analysis - Dukascopy Bank
Tue, 05 Jan 2021 09:32:55 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
26%
25%
4.8%
Shorts
74%
75%
-1.7%
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)
Sell
Buy
Buy
Aggregate
⇒
⇗
⇒
The New Zealand Dollar fell by 70 basis points or 0.96% against the US Dollar on Monday. The currency pair tested the lower line of an ascending channel pattern at 0.7158 during yesterday's trading session.
Everything being equal, the exchange rate could continue to trade in the ascending channel pattern. Bulls are likely to target the 0.7260 level during the following trading session.
However, a resistance level at 0.7240 could provide a barrier for the NZD/USD currency exchange rate today.
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