GBP/NZD 1H Chart: Some upside potential could prevail

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Indicator4H1D1W
MACD(12;26;9)BuyBuyBuy
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralNeutralSell
Alligator(13;8;5)NeutralBuyBuy
SAR(0.02;0.2)SellBuyBuy
Aggregate⇒⇗⇗

[ANNOUNCE] The British Pound has been appreciating against the New Zealand Dollar since the beginning of September after the GBP/NZD currency pair re-tested the support level—the Fibonacci 38.20% retracement at 1.9037. [/ANNOUNCE] 

Currently, the exchange rate is testing the resistance level formed by the weekly PP at 1.9799. Given that the rate is supported by the 55-, 100– and 200-period SMAs (4H time-frame chart), it is likely that some upside potential could prevail. Important level to look out for is the monthly R2 at 2.0043. 

However, if the given resistance level holds, a reversal south could occur in the nearest future. In this case the currency pair could re-test the ascending trend line located in the 1.9400/1.19600 area.

Actual Topics