NZD/USD bears likely to prevail - Technical Analysis - Dukascopy Bank
Tue, 12 Jan 2021 09:35:29 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
29%
29%
-0.5%
Shorts
71%
71%
0.2%
Indicator
4H
1D
1W
MACD(12;26;9)
Buy
Buy
Buy
RSI(14)
Neutral
Neutral
Sell
Stochastic(5;3;3)
Neutral
Neutral
Sell
Alligator(13;8;5)
Neutral
Buy
Buy
SAR(0.02;0.2)
Sell
Buy
Buy
Aggregate
⇒
⇗
⇒
The New Zealand Dollar declined approximately 40 basis points or 0.54% against the US Dollar on Monday. The currency pair tested the lower boundary of a descending channel pattern during yesterday's trading session.
Everything being equal, the exchange rate could continue to decline during the following trading session. The possible target for the NZD/USD pair would be near the 0.7140 level.
However, the weekly S1 at 0.7153 could still provide support for the currency exchange rate within this session.
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