NZD/USD 1H Chart: Channel Up

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
NZD/USD has been in an uptrend for more than four days, vacillating in a narrow corridor shaped by two upward-sloping lines. Although, on September 4, the currency couple touched a two-week high of 0.7928, it did not manage to consolidate at this level and dropped to the pattern's lower boundary at 0.7858, a stab to which fuelled a rally to the important resistance at 0.7916. The pair is trading close to this zone; however, below this level a bounce is likely to fail, as almost 62% of market players expect the pair to head to the south. Meanwhile, technical indicators are sending mixed signals, predicting a bullish trend in a short-term and bearish in the one-day period.
© Dukascopy Bank SA
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