EUR/NZD 1H Chart: Channel Up

Source: Dukascopy Bank SA
© Dukascopy Bank SA
Following a period EUR/NZD's correction that took place from April 24 till April 28 inside the bullish channel, the pair is finally recovering from this week's lows at 1.4180. Moreover, it seems that bulls are getting stronger momentum, as the Euro has already managed to pierce through all but one daily support on Wednesday. Now, the main target is considered to be the weekly R1 at 1.4527. If the pair manages to violate this resistance, it will afterwards head towards the upper trend-line of the pattern at 1.4615. While 1H technical indicators support the bullish move, SWFX traders are broadly undecided on pair's perspectives, while bulls (52%) only have a slight advantage over bears.
© Dukascopy Bank SA
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