AUD/NZD 4H Chart: Short-term surge likely

Note: This section contains information in English only.
Source: Dukascopy Bank SA

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

The Australian Dollar has depreciated significantly against the New Zealand Dollar after the currency pair made a U-turn south from the upper boundary of a two-week descending channel at 1.0986 on October 10.

The exchange rate was trading near the bottom border of a long-term ascending channel at 1.0815 and could be set for a breakout during the following trading sessions.

If this breakout occurs, the currency exchange rate will target a swing low at 1.0659 within the coming days.

However, a potential short-term surge towards a resistance cluster formed by the combination of the weekly and the monthly PPs at 1.0844 is expected today.

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