NZD/USD trades below 0.7237 - Technical Analysis - Dukascopy Bank
Wed, 27 Jan 2021 08:14:21 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
26%
29%
-10.0%
Shorts
74%
71%
3.5%
Indicator
4H
1D
1W
MACD(12;26;9)
Buy
Buy
Buy
RSI(14)
Neutral
Neutral
Neutral
Stochastic(5;3;3)
Sell
Sell
Neutral
Alligator(13;8;5)
Buy
Buy
Buy
SAR(0.02;0.2)
Buy
Sell
Buy
Aggregate
⇗
⇒
⇗
The NZD/USD currency pair bounced off a support cluster formed by the 200– hour simple moving average and the weekly pivot point at 0.7166 during Tuesday's trading session. As a result, the New Zealand Dollar surged by 78 pips or 1.09% against the US Dollar on Tuesday.
The exchange rate is currently trading below the weekly resistance level at 0.7237. Bullish traders are likely to move past the resistance line today.
However, if the weekly R1 at 0.7237 holds, a decline towards the 0.7180 area could be expected within this session.
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