NZD/USD breakout occurs - Technical Analysis - Dukascopy Bank
Mon, 01 Mar 2021 08:40:30 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
35%
26%
25.5%
Shorts
65%
74%
-13.5%
Indicator
4H
1D
1W
MACD(12;26;9)
Sell
Buy
Buy
RSI(14)
Neutral
Neutral
Sell
Stochastic(5;3;3)
Buy
Buy
Sell
Alligator(13;8;5)
Sell
Buy
Buy
SAR(0.02;0.2)
Sell
Sell
Buy
Aggregate
⇘
⇗
⇒
Downside momentum pressured the New Zealand Dollar against the US Dollar on Friday. The NZD/USD exchange rate declined by 145 pips or 1.97% during Friday's trading session.
Given that a breakout had occurred through the lower boundary of an ascending channel pattern, sellers might pressure the currency pair lower during the following trading session.
However, a support line at the 0.7200 level could provide support for the currency exchange rate within this session.
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