NZD/USD sets for breakout - Technical Analysis - Dukascopy Bank
Wed, 03 Feb 2021 09:07:19 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
33%
35%
-4.5%
Shorts
67%
65%
2.3%
Indicator
4H
1D
1W
MACD(12;26;9)
0
0
0
RSI(14)
4H
1D
1W
Stochastic(5;3;3)
Buy
Buy
Buy
Alligator(13;8;5)
Sell
Neutral
Neutral
SAR(0.02;0.2)
Buy
Buy
Buy
Aggregate
⇒
⇗
⇗
The NZD/USD currency pair bounced off the lower boundary if an ascending channel pattern at 0.7140 on Tuesday. As a result, the New Zealand Dollar surged by 58 pips or 0.82% against the US Dollar during yesterday's trading session.
Currently, the exchange rate is trading near the upper line of the channel pattern and could be set for a breakout.
If the breakout occurs, a surge towards the 0.7300 area could be expected within this session.
However, if the ascending channel holds, the currency exchange rate is likely to make a retracement towards the 0.7184 today.
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