NZD/USD two scenarios likely - Technical Analysis - Dukascopy Bank
Thu, 25 Feb 2021 09:47:28 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
26%
28%
-6.0%
Shorts
74%
72%
2.1%
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 surged by 126 pips or 1.73% against the US Dollar on Wednesday. The NZD/USD currency pair tested the upper line of an ascending channel pattern at 0.7450 during yesterday's trading session.
All things being equal, the exchange rate could continue to trend higher during the following trading session. A breakout through the upper boundary of an ascending channel pattern could occur.
However, if the channel pattern holds, a decline towards the 50– hour simple moving average at 0.7370 within Thursday's trading session.
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