NZD/USD 4H Chart: Channel Up

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
From a fundamental perspective the surge in the NZD/USD currency exchange rate has been propelled by weakness of the Greenback. However, from a technical point of view, the surge of the currency pair has been long in the making, as the pair is simultaneously trading in two ascending channel patterns. However, the minor pattern is about to become obsolete, as the currency exchange rate has already two times bounced off the dominant channel's upper trend line. Due to that it can be assumed that there is about to be some sort of consolidation, which will be represented by a period of rather flat trading. However, the surge will resume afterwards.
© Dukascopy Bank SA
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Tue, 31 Jan 2017 09:29:45 GMT

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