NZD/USD 4H Chart: Ascending Channel

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Source: Dukascopy Bank SA
© Dukascopy Bank SA
The Kiwi, surprisingly, is the currency, which ignores the US presidential election. For example, the NZD/USD currency exchange rate continued to trade in the previously set medium term pattern, which it formed as a result of rebound of the long term ascending channel pattern's support line in the middle of October. Most recently, the currency pair reached the medium term channel's upper trend line, and it has remain near it, as a bounce off is not occurring due to strong support being provided by the monthly R1 at 0.7298. That might be due to the fact, that the Kiwi traders are more interested in the fundamental events in New Zealand, as a central bank rate cut is possible on Thursday.
© Dukascopy Bank SA
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