AUD/USD 1H Chart: Channel Up

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
The Australian Dollar, despite the strength of it US counterpart, retains a bullish bias. Since mid-October the currency pair has been forming a well-defined upward channel, meaning the price of the Aussie is likely to increase in the coming days. Accordingly, the current target is the upper boundary of the formation at 0.89, where the resistance is reinforced by the daily R2 level and Oct high and may thus stop further advancement. However, if neither the 200-hour SMA at 0.88 nor the rising support line at 0.8780 manage to remain intact, AUD/USD will likely fall to 0.8720, which in turn is guarding this year's lows at 0.8640.
© Dukascopy Bank SA
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Fri, 31 Oct 2014 14:17:05 GMT

NZD/USD 1H Chart: Channel Down

Since there is a formidable resistance at 0.7950 represented by a multi-month down-trend (drawn through August and October highs), the outlook for NZD/USD is bearish. Yet another significant supply area is implied by the 200-hour SMA at 0.7879. Therefore, NZD/USD is expected to negate the recent gains in the nearest future and re-visit this year's minimum at 0.77.In the meantime,

Fri, 31 Oct 2014 09:05:07 GMT

NZD/CAD 4H Chart: Falling Wedge

Even though the pattern (Falling Wedge) is rather short being 57-bars long, it offers a great quality and magnitude. The pattern started to form, after a failure to consolidate above the psychological level at 0.90. Clearly, the NZD/CAD cross is still on a bearish bias; however, we already saw a correction in early October, with the pair testing the 0.90 level.

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