NZD/USD breakout could occur - Technical Analysis - Dukascopy Bank
Wed, 10 Feb 2021 09:20:20 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
32%
31%
3.8%
Shorts
68%
69%
-1.8%
Indicator
4H
1D
1W
MACD(12;26;9)
Buy
Buy
Buy
RSI(14)
Neutral
Neutral
Sell
Stochastic(5;3;3)
Neutral
Sell
Neutral
Alligator(13;8;5)
Buy
Buy
Buy
SAR(0.02;0.2)
Buy
Buy
Buy
Aggregate
⇗
⇗
⇗
The New Zealand Dollar declined by 30 pips or 0.42% against the US Dollar on Tuesday. The decline was stopped by the 50– hour simple moving average during yesterday's trading session.
Currently, the exchange rate is trading near the lower line if an ascending channel pattern and could be set for a breakout.
If the breakout occurs, a decline towards the 100– hour SMA at 0.7200 could be expected today.
However, if the ascending channel holds, buyers could target the 0.7280 level during the following trading session.
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