AUD/NZD 1H Chart: Rising Wedge

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

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

The Australian Dollar was advancing against the New Zealand Dollar in a short-term ascending channel that has formed in result of a rebound from the bottom trend-line of a preceding descending channel. Three days in a row the Aussie was advancing against the Kiwi. However, after a speech delivered by the RBA Assistant Governor Kent, the pair has entered into a five hour fall that was stopped only by the approached 55-hour SMA near 1.0762. This is the point that can be classified as a second reaction low of a rising wedge. If this assumption is true, then the pair is going to climb upstairs, firstly, to reach the 1.0804 mark and, secondly, to reach a combined resistance level formed by the pattern's upper trend-line and the weekly R2 at 1.0837.

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