EUR/NZD 1H Chart: Channel Up

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
EUR/NZD established a solid downtrend inside the bounds of a channel down pattern which shows no signs of weakness for now. The pair has just exited a cloud resistance area and is now targeting the bottom trend-line at 1.4821 with a few hitches on the way. The pair is likely to lose some momentum at 1.4851, 1.4839 and 1.4829, then bounce off the trend-line in a bullish outburst and move on to an upwave. With SMA pressures weighing on the currency from above, the movement shows enough strength to remain inside the bounds of the pattern.
© Dukascopy Bank SA
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