NZD/USD 4H Chart: Channel Up

Note: This section contains information in English only.
Source: Dukascopy Bank SA


The New Zealand Dollar is trading against the American Dollar in the short-term ascending channel. The pattern began to form shortly after the pair lost 116 basis points in the middle of last week, which was most likely associated with the announcement of the Official Cash Rate by the RBZN. Currently, the rate has bounced off from the upper trend-line of the channel and resumed a downward direction amid the strong pressure put by the 200-period SMA and weekly R1 at 0.6942 and 0.6936, accordingly. Since the pair does not face any strong support levels, except for the monthly PP located at 0.6926, most likely it will successfully reach the bottom edge of the channel.

  Level  Rationale     Indicator 4H 1D 1W
R4 0.7001 Monthly R1     MACD (12; 26; 9) Sell Sell Sell
R3 0.6952 Trend line     RSI (14) Buy Sell Sell
R2 0.6950 Upper Bollinger Band     Stochastic (5; 3; 3) Neutral Neutral Neutral
R1 0.6942 200-period SMA     ADX (14) Sell Sell Buy
S1 0.6925 Monthly PP     CCI (14) Neutral Neutral Neutral
S2 0.6902 20-period SMA     AROON (14) Neutral Sell Neutral
S3 0.6894 100-period SMA; 55-period SMA     Alligator (13; 8; 5) Buy Buy Buy
S4 0.6884 Trend line     SAR (0.02; 0.2) Buy Sell Sell
          Aggregate

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.