NZD/USD targets at 0.7069 - Technical Analysis - Dukascopy Bank
Wed, 10 Mar 2021 08:44:27 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
56%
55%
1.4%
Shorts
44%
45%
-1.8%
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)
Buy
Sell
Buy
Aggregate
⇒
⇘
⇗
The New Zealand Dollar surged by 73 pips or 1.03% against the US Dollar on Tuesday. The currency pair breached the upper boundary of a descending channel pattern during Tuesday's trading session.
Everything being equal, the exchange rate could continue to decline in a descending channel pattern today. The potential target for the NZD/USD pair will be near the weekly S1 at 0.7069.
However, given that the currency exchange rate is currently trading near the upper line of the channel pattern, a breakout could occur within this session.
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