NZD/USD 1H Chart: Channel Up

Source: Dukascopy Bank SA
© Dukascopy Bank SA
Following more than a one-month long decline, the New Zealand Dollar changed its tendency against its U.S. counterpart and as a result the pair managed to shape a 109-bar long channel up pattern.
At the moment, the pair is on the rise, moving towards the upper trend-line after attaining the lower one several hours earlier. Meanwhile, traders on the SWFX are not so confident in the pair's ability to sustain the rally – the overall sentiment is neutral. Technical numbers also are neutral for short and medium term but warn about a possible downswing in long perspective.
© Dukascopy Bank SA
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