NZD/USD breaks channel - Technical Analysis - Dukascopy Bank
Thu, 21 Jan 2021 07:42:54 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
35%
33%
5.4%
Shorts
65%
67%
-3.0%
Indicator
4H
1D
1W
MACD(12;26;9)
Sell
Buy
Buy
RSI(14)
Neutral
Neutral
Sell
Stochastic(5;3;3)
Neutral
Buy
Neutral
Alligator(13;8;5)
Sell
Neutral
Buy
SAR(0.02;0.2)
Sell
Sell
Buy
Aggregate
⇘
⇒
⇗
The New Zealand Dollar jumped by 73 basis points or 1.03% against the US Dollar on Wednesday. The currency pair breached the upper line of a descending channel pattern on Thursday morning.
Given that a breakout has occurred, the exchange rate could continue to edge up during the following trading session. The possible target for the NZD/USD pair would be near the 0.7240 area.
However, a resistance level at 0.7209 could provide a barrier for the currency exchange rate within Thursday's session.
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