EUR/NZD 1H Chart: Short-term advance expected

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Indicator4H1D1W
MACD(12;26;9)BuyBuySell
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)BuyNeutralNeutral
Alligator(13;8;5)BuyBuyNeutral
SAR(0.02;0.2)SellBuyBuy
Aggregate

The EUR/NZD currency pair has been trading up since the end of March, when the pair reversed from the lower boundary of the long-term ascending channel at the 1.6330 mark.  

Given that the pair is supported by the 55-, 100– and 200-hour moving averages, it is likely, that some upside potential could continue to prevail in the market. Potential upside target is the resistance level—the Fibonacci 23.60% retracement at 1.7123. 

However, if the given support does not hold, it is expected, that bears could prevail in the market, and the exchange rate could re-test the lower channel line.

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