NZD/USD breakout could occur - Technical Analysis - Dukascopy Bank
Wed, 24 Feb 2021 09:26:39 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
28%
29%
-6.5%
Shorts
72%
71%
2.5%
Indicator
4H
1D
1W
MACD(12;26;9)
Buy
Buy
Buy
RSI(14)
Sell
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 has surged by 84 pips or 1.15% against the US Dollar since yesterday's trading session. The currency pair tested the upper line of an ascending channel pattern during the London session on Wednesday.
Given that the exchange rate is currently trading near the upper border of the channel pattern, a breakout could occur within this session.
If the breakout occurs, a surge towards the 0.7450 level could be expected during the following trading session.
However, if the channel pattern holds, bears could pressure the currency exchange rate lower today.
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