NZD/USD two scenarios likely - Technical Analysis - Dukascopy Bank
Thu, 07 Jan 2021 09:30:27 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 edged higher by 71 points or 0.98% against the US Dollar on Wednesday. The currency pair tested the upper boundary of an ascending channel pattern at 0.7320 during yesterday's trading session.
Most likely, the exchange rate will continue to trend up in the channel pattern during the following trading session. The possible target for bears would be near the 0.7340 area.
However, if the currency exchange rate breach a support line formed by the 50– hour SMA at 0.7261, a decline towards the 0.7220 could be expected today.
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