AUD/NZD 1H Chart: Upside potential

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

Indicator 4H 1D 1W
 MACD(12;26;9) Sell Sell Sell
 RSI(14) Neutral Neutral Neutral
 Stochastic(5;3;3) Neutral Neutral Neutral
 Alligator(13;8;5) Sell Sell Sell
 SAR(0.02;0.2) Sell Buy Buy
 Aggregate

The AUD/NZD currency pair has been trading within the descending channel since the beginning of January.  

Given that the exchange rate is being pressured by the 55-, 100– and 200-hour SMAs, it is likely that some downside potential prevails in the nearest future. It is expected that the pair targets the lower channel line located in the 1.0250/1.0300 range. 

However, the exchange rate has to surpass the weekly S1 at 1.0371. If given support level holds, a reversal north occurs within following sessions.

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