NZD/USD breakout occurs - Technical Analysis - Dukascopy Bank
Tue, 16 Mar 2021 08:36:40 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
56%
55%
1.6%
Shorts
44%
45%
-2.1%
Indicator
4H
1D
1W
MACD(12;26;9)
Buy
Sell
Buy
RSI(14)
Neutral
Neutral
Neutral
Stochastic(5;3;3)
Neutral
Neutral
Neutral
Alligator(13;8;5)
Buy
Sell
Buy
SAR(0.02;0.2)
Sell
Sell
Sell
Aggregate
⇒
⇘
⇒
The New Zealand Dollar declined by 39 pips or 0.54% against the US Dollar on Monday. The currency pair breached the 50– and 200– hour SMAs during yesterday's trading session.
A breakout occurred through the lower boundary of an ascending channel pattern during the London session on Tuesday.
Given that a breakout had occurred, bearish traders are likely to pressure the NZD/USD pair lower today.
However, the weekly pivot point at 0.7171 could provide support for the currency exchange rate within this session.
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