NZD/CAD 1H Chart: Channel Down

Source: Dukascopy Bank SA
© Dukascopy Bank SA
NZD/CAD proved to be unable to sustain a rally beyond 0.90 last month, and at the moment the currency is in a distinct down-trend. The rate has just confirmed the upper boundary of the channel at 0.8750, and we see the sell-off extending deeper. There is a notable support area just above 0.86, but eventually the bears are likely to push the price through the Nov 4 and Oct 13 lows. A bullish correction should be expected near 0.8550, where NZD/CAD is estimated to meet the lower trend-line of the pattern. On the other hand, if the price closes above 0.8750, the Kiwi will probably test the 200-hour SMA at 0.88. Additional resistance is at 0.89, represented by the Oct 30 high.
© Dukascopy Bank SA
Back to articles

Actual Topics

Fri, 06 Nov 2015 15:14:41 GMT

EUR/SEK 4H Chart: Triangle

Considering that since late August the Euro has been underperforming the Swedish Krona and the symmetrical triangle itself a neutral pattern, we hold a negative bias with respect to EUR/SEK. The pattern is likely to be broken to the downside, which in turn will pave the way for a decline to the October 28 low at 9.3140. Additional support level

Fri, 06 Nov 2015 07:47:07 GMT

AUD/CAD 4H Chart: Channel Up

Despite AUD/CAD currently struggling to advance through the weekly PP and 200-period SMA, the outlook on the currency pair is bullish. The Aussie is expected to resume the rally from 0.93 and re-test 0.9585, a tough resistance level that withstood both October attacks. However, we might have to wait before the pair regains bullish momentum, considering that at the moment

Subscribe to "Fundamental Analysis" feed

Subscribe
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX 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.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
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.