NZD/USD two scenarios likely - Technical Analysis - Dukascopy Bank
Mon, 08 Feb 2021 08:31:58 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
32%
34%
-4.8%
Shorts
68%
66%
2.3%
Indicator
4H
1D
1W
MACD(12;26;9)
Buy
Buy
Buy
RSI(14)
Neutral
Neutral
Sell
Stochastic(5;3;3)
Sell
Neutral
Neutral
Alligator(13;8;5)
Buy
Buy
Buy
SAR(0.02;0.2)
Buy
Buy
Buy
Aggregate
⇗
⇗
⇗
The New Zealand Dollar surged by 67 pips or 0.94% against the US Dollar on Friday. The currency pair breached the 50-, 100– and 200– hour SMAs during Friday's trading session.
All things being equal, the exchange rate is likely to continue to trend bullish during the following trading session. A breakout through the upper line of a descending channel pattern could occur.
However, if the channel pattern holds, the NZD/USD currency exchange rate would make a brief retracement towards the 0.7160 level in the short term.
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