NZD/USD tests 0.7240 area - Technical Analysis - Dukascopy Bank
Wed, 13 Jan 2021 09:58:36 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
29%
29%
0.2%
Shorts
71%
71%
-0.1%
Indicator
4H
1D
1W
MACD(12;26;9)
Sell
Buy
Buy
RSI(14)
Neutral
Neutral
Sell
Stochastic(5;3;3)
Sell
Neutral
Sell
Alligator(13;8;5)
Sell
Buy
Buy
SAR(0.02;0.2)
Buy
Buy
Buy
Aggregate
⇘
⇗
⇒
The New Zealand Dollar surged by 84 points or 1.18% against the US Dollar on Tuesday. The currency pair tested the upper boundary of a descending channel pattern at 0.7240 during yesterday's trading session.
The exchange rate fell from the upper border of the channel pattern during the London session on Wednesday.
Most likely, bearish traders would pressure the NZD/USD pair lower during the following trading session.
However, the 50– hour simple moving average at 0.7189 could provide support for the currency exchange rate in the short term.
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