AUD/NZD 4H Chart: Channel Down

Source: Dukascopy Bank SA
The two neighboring currencies, the Australian Dollar and the New Zealand Dollar have recently changed the course of their exchange rate. The Ausie is no longer trading an ascending channel pattern against the Kiwi, as the recent channel down pattern managed to break free of the dominant trend. The rate is most likely going to reach the 50.00% Fibonacci retracement level, which is located at the 1.0787 level. However, before that occurs the Kiwi is set to struggle to pass the resistance put up by the 200-period SMA, which on Tuesday was located at the 1.0794 level. Meanwhile, SWFX market sentiment gives no clues regarding the future, as 52% of trader open positions are long.
© Dukascopy Bank SA
Back to articles

Actual Topics

Wed, 29 Mar 2017 06:34:07 GMT

USD/PLN 1H Chart: Channel Down

A descending channel led USD/PLN away from two-month highs of 4.0965 and has stuck around since, suggesting that bears are likely to extend the gains if the current tests of the upper boundary are unsuccessful. There is, however, quite a chance that the pair might break out of the pattern immediately and we will look for it to start a

Tue, 28 Mar 2017 14:33:40 GMT

GBP/AUD 4H Chart: Channel Up

As a result of a breakout from a long term descending channel pattern, the Pound has been scoring gains in an ascending channel pattern against the Australian Dollar. At the moment of analysing it looks like the currency exchange rate is set to surge up to the 23.60% Fibonacci retracement level, which is providing resistance at the 1.6781 level. It

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.