| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Buy | Buy |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Neutral | Neutral |
| Alligator(13;8;5) | Sell | Buy | Buy |
| SAR(0.02;0.2) | Sell | Buy | Sell |
| Aggregate | ⇘ | ⇗ | ⇒ |
The Australian Dollar has been trading in an ascending channel pattern against the New Zealand Dollar since the beginning of June. The currency pair breached the 1.0800 area during last week's trading sessions.
Currently, the AUD/NZD exchange rate is trading near the lower boundary of the channel pattern and could be set for a breakout.
If the breakout occurs, a decline towards the weekly support level at 1.068 during the following trading sessions.
However, if the ascending channel pattern holds, bullish traders might drive the currency exchange rate higher this week.