Indicator | 4H | 1D | 1W |
MACD (12; 26; 9) | Sell | Buy | Buy |
RSI (14) | Buy | Neutral | Neutral |
Stochastic (5; 3) | Sell | Sell | Sell |
Alligator (13; 8; 5) | Sell | Neutral | Buy |
SAR (0.02; 0.2) | Sell | Sell | Buy |
Aggregate | ⇒ | ⇒ | ⇒ |
After meeting the 61.80% Fibonacci retracement level of the 2016 low and 2015 high levels the Aussie has been declining against the New Zealand Dollar. The fall of the rate has been occurring simultaneously in two descending channel patterns.
The next target for the fall of the pair is the weekly S2, which is located at the 1.0841 level. Afterwards the pair should continue the decline down to the combined support of the 38.20% Fibonacci retracement level and the monthly S1, which both are located just below the 1.08 mark.
Meanwhile, there are some significant fundamental events about to occur. For example, the New Zealand Parliamentary elections take place this weekend.