NZD/USD could continue to trend higher - Technical Analysis - Dukascopy Bank
Tue, 09 Feb 2021 09:27:09 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
31%
32%
-4.9%
Shorts
69%
68%
2.2%
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 54 pips or 0.75% against the US Dollar on Monday. The NZD/USD currency pair breached the weekly R1 at 0.7237 during the Asian session on Tuesday.
Everything being equal, the exchange rate could continue to trend higher in an ascending channel pattern during the following trading session. Bullish traders are likely to target the weekly R2 at 0.7276 today.
However, the currency exchange rate could encounter a resistance level at 0.7250 in the shorter term.
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