NZD/USD bulls could prevail - Technical Analysis - Dukascopy Bank
Wed, 06 Jan 2021 08:41:57 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
27%
26%
3.1%
Shorts
73%
74%
-1.2%
Indicator
4H
1D
1W
MACD(12;26;9)
Buy
Buy
Buy
RSI(14)
Neutral
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 128 pips or 1.78% against the US Dollar since yesterday's trading session. The currency pair breached the upper boundary of an ascending channel pattern at 0.7296 on Wednesday morning.
The NZD/USD exchange rate could continue to trend bullish during the following trading session. The potential target for bullish traders would be near the weekly R2 at 0.7326.
However, if the ascending channel pattern holds, the currency exchange rate could make a brief retracement towards the 0.7254 during the following trading session.
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