NZD/CAD 4H Chart: Target at 200-hour SMA - Trade Pattern Ideas - Dukascopy Bank
Thu, 20 Sep 2018 07:49:38 GMT
Source: Dukascopy Bank SA
Indicator
4H
1D
1W
MACD (12; 26; 9)
Buy
Sell
Sell
RSI (14)
Neutral
Neutral
Neutral
Stochastic (5; 3)
Neutral
Neutral
Neutral
Alligator (13; 8; 5)
Buy
Sell
Sell
SAR (0.02; 0.2)
Sell
Sell
Sell
Aggregate
⇒
⇘
⇘
The NZD/CAD currency pair has been trading in a descending channel since mid-June. This descending channel has guided the currency pair toward March 2016 low level at 0.8509.
The currency pair reversed from this low level a few days ago. Currently, the rate has breached the 50-hour simple moving average at 0.8559. The next level the exchange rate could target will be a resistance line formed by the 200-hour SMA at 0.8647.
Although, a resistance cluster formed by the combination of the weekly and the 100-hour SMA at 0.8611 could hinder the currency exchange rate from hitting this target today.
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