NZD/USD could edge lower - Technical Analysis - Dukascopy Bank
Tue, 26 Jan 2021 08:31:48 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
29%
28%
2.3%
Shorts
71%
72%
-0.9%
Indicator
4H
1D
1W
MACD(12;26;9)
Buy
Buy
Buy
RSI(14)
Neutral
Neutral
Neutral
Stochastic(5;3;3)
Neutral
Neutral
Neutral
Alligator(13;8;5)
Buy
Buy
Buy
SAR(0.02;0.2)
Sell
Sell
Buy
Aggregate
⇒
⇒
⇗
The New Zealand Dollar declined by 38 basis points or 0.53% against the US Dollar on Monday. The currency pair reversed from the upper line of a descending channel pattern at 0.7213 during yesterday's trading session.
Most likely, bearish traders could continue to pressure the exchange rate lower during the following trading session.
However, the 200– hour simple moving average and the weekly pivot point at 0.7166 could provide support for the NZD/USD currency exchange rate within Monday's trading session.
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