NZD/USD bears could continue to prevail - Technical Analysis - Dukascopy Bank
Mon, 18 Jan 2021 08:27:54 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
32%
33%
-3.8%
Shorts
68%
67%
1.8%
Indicator
4H
1D
1W
MACD(12;26;9)
Sell
Buy
Buy
RSI(14)
Neutral
Neutral
Sell
Stochastic(5;3;3)
Buy
Neutral
Neutral
Alligator(13;8;5)
Sell
Neutral
Buy
SAR(0.02;0.2)
Sell
Sell
Buy
Aggregate
⇘
⇒
⇗
The New Zealand Dollar edged lower by 98 basis points or 1.36% against the US Dollar on Friday. The currency pair was pressured lower by the 200– hour simple moving average during Friday's trading session.
The NZD/USD exchange rate could continue to decline during the following trading session. A breakout through the lower boundary of a descending channel pattern could occur today.
However, if the channel pattern holds, the currency exchange rate could make a brief pullback towards the weekly pivot point at 0.7162 within the following session.
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