AUD/NZD 4H Chart: Daily bullish signals

Source: Dukascopy Bank SA

Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Buy Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3) Neutral Neutral Neutral
Alligator (13; 8; 5) Sell Buy Buy
SAR (0.02; 0.2) Sell Buy Buy
Aggregate

 AUD/NZD started appreciating since the beginning of April. The currency pair reversed from the lower boundary of a dominant descending channel on April 11 and a high mark of 1.1004 during the previous week trading sessions.

The exchange rate pullback from a seven-month high level on August 10 and began to depreciate. As a result, the currency pair breached some significant support level. Namely, the monthly, the weekly and the 55-hour simple moving average within this short period.

Technical indicators flash bullish signals on the daily time-frame. Therefore, it is likely that the currency exchange rate could reverse from a support cluster at 1.0983 during the following trading days.

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