NZD/CAD 4H Chart: Channel Up

Source: Dukascopy Bank SA
© Dukascopy Bank SA
The New Zealand Dollar is surging in an ascending channel pattern against the Canadian Dollar, as the rate recently rebounded against the pattern's lower trend line at 0.9440. Moreover, the currency exchange rate is in an ascending triangle pattern on a larger scale, and the recent movements of the pair have been consistent with both patterns. In accordance with both patterns the Kiwi is set to have a breakout against the Loonie during this or the next week. On its way to the triangle pattern's upper trend line, the currency exchange rate is set to encounter the weekly pivot point at 0.9488. After breaking through the pivot point's resistance, there will be no other delays in the rates surge.
© Dukascopy Bank SA
Back to articles

Actual Topics

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.