NZD/USD breakout occurs - Technical Analysis - Dukascopy Bank
Thu, 28 Jan 2021 08:08:27 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
30%
26%
14.4%
Shorts
70%
74%
-6.3%
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
⇗
⇒
⇗
Downside risks have pressured the New Zealand Dollar against the US Dollar since Wednesday's trading session. The NZD/USD currency pair has declined by 100 points or 1.36% on January 27.
Given that a breakout has occurred, bearish traders are likely to continue to drive the exchange rate lower during the following trading session. The possible target for bears would be near the 0.7050 area.
However, the weekly S1 at 0.7107 could provide support for the currency exchange rate within this session.
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