NZD/USD decline likely to continue - Technical Analysis - Dukascopy Bank
Tue, 02 Mar 2021 09:33:29 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
44%
35%
20.8%
Shorts
56%
65%
-16.1%
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
⇘
⇗
⇒
The New Zealand Dollar edged up by 53 pips or 0.74% against the US Dollar on Monday. A breakout occurred through the lower boundary of an ascending channel pattern during the London session on Tuesday.
Given that the currency pair has breached the channel pattern, bearish traders could pressure the exchange rate lower today. The possible target would be near the weekly S1 at 0.7147.
However, the currency exchange rate might reverse from a psychological support level at 0.7200 today.
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