AUD/NZD 4H Chart: Decline likely to continue - Trade Pattern Ideas - Dukascopy Bank
Mon, 07 Oct 2019 05:50:03 GMT
Source: Dukascopy Bank SA
Indicator
4H
1D
1W
MACD(12;26;9)
Sell
Buy
Buy
RSI(14)
Neutral
Neutral
Neutral
Stochastic(5;3;3)
Neutral
Neutral
Neutral
Alligator(13;8;5)
Sell
Neutral
Buy
SAR(0.02;0.2)
Buy
Sell
Buy
Aggregate
⇒
⇒
⇗
The Australian Dollar has depreciated about 1.19% in value against the New Zealand Dollar since September 22. The currency pair is currently trading near in a junior descending channel pattern.
Given that the AUD/NZD exchange rate is trading near the bottom border of a long-term ascending channel, a breakout could occur within this week's trading sessions.
If the breakout occurs, a decline towards the 1.0627 area could be expected in the nearest future.
However, if the ascending channel holds, a brief retracement towards the weekly pivot point at 1.0830 could follow.
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