| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Sell | Sell |
| RSI(14) | Neutral | Buy | Neutral |
| Stochastic(5;3;3) | Sell | Buy | Buy |
| Alligator(13;8;5) | Sell | Sell | Sell |
| SAR(0.02;0.2) | Buy | Sell | Sell |
| Aggregate | ⇘ | ⇒ | ⇘ |
The New Zealand has been depreciating against the Canadian Dollar since the beginning of April. This movement has been bounded in the descending channel.
As apparent on the chart, the NZD/CAD exchange rate has already reversed north from the lower channel boundary at 0.8690. From a theoretical perspective, it is expected, that the rate could continue to decline within the given trend. Important support level to look out is the Fibonacci 23.60% retracement at 0.8609.
However, note, that the currency pair is pressured by the 55-, 100– and 200-hour SMAs. Thus, if the given channel does not hold, a breakout south could occur in the nearest future.