AUD/NZD 1H Chart: Channel Up

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
The Australian Dollar recently formed an ascending channel against the New Zealand Dollar. The new pattern formed as a result of a breakout from a descending triangle to the upside. The rate is set to continue the surge in accordance with this new ascending channel, until a level of significance stops the appreciation of the Australian Dollar. It is most likely going to be the 38.20% Fibonacci retracement level far above the rate at 1.0659. The pair afterwards will likely bounce off the resistance and form a new long term pattern. However, the Aussie is already overbought against the Kiwi, as 74% of open positions are long. Although, the pair recently reached the channel's upper trend line and is likely to decline for a short period, changing the market sentiment, as the Aussie is sold against the New Zealand Dollar.
© Dukascopy Bank SA

Actual Topics

Subscribe to "Fundamental Analysis" feed

订阅
欲了解更多有关杜高斯贝银行差价合约/外汇交易平台,SWFX和其它相关交易详情,
请致电我们或要求回电。
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
欲了解更多有关杜高斯贝银行差价合约/外汇交易平台,SWFX和其它相关交易详情,
请致电我们或要求回电。
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.