NZD/USD decline likely to continue - Technical Analysis - Dukascopy Bank
Mon, 08 Mar 2021 09:21:21 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
50%
51%
-3.0%
Shorts
50%
49%
2.9%
Indicator
4H
1D
1W
MACD(12;26;9)
Sell
Sell
Buy
RSI(14)
Neutral
Neutral
Neutral
Stochastic(5;3;3)
Neutral
Neutral
Neutral
Alligator(13;8;5)
Sell
Sell
Buy
SAR(0.02;0.2)
Sell
Sell
Buy
Aggregate
⇘
⇘
⇗
On Friday, the New Zealand Dollar edged up by 55 pips or 0.77% against the US Dollar. The 50– hour simple moving average provided resistance for the currency pair during Friday's session.
Technical indicators flash selling signals on the 4H and daily time-frame charts. The exchange rate will most likely continue to edge lower in a descending channel pattern today.
However, the weekly support line at 0.7069 could provide support for the currency exchange rate within this session.
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