NZD/USD likely to maintain channel - Technical Analysis - Dukascopy Bank
Thu, 14 Jan 2021 09:20:50 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
31%
29%
4.9%
Shorts
69%
71%
-2.2%
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 declined by 61 pips or 0.84% against the US Dollar on Wednesday. The currency pair breached the 50– and 100– hour SMAs during yesterday's trading session.
As for the near future, the exchange rate is likely to maintain the descending channel pattern. Bears could target the weekly support level at 0.7153 within the following trading session.
However, given that the currency exchange rate is currently trading near the upper line of the descending channel pattern, a breakout might occur during the following trading session.
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