AUD/NZD 4H Chart: Trading in narrow channel - Trade Pattern Ideas - Dukascopy Bank
Mon, 16 Dec 2019 06:35:52 GMT
Source: Dukascopy Bank SA
Indicator
4H
1D
1W
MACD(12;26;9)
Sell
Sell
Sell
RSI(14)
Neutral
Buy
Neutral
Stochastic(5;3;3)
Buy
Neutral
Buy
Alligator(13;8;5)
Sell
Sell
Sell
SAR(0.02;0.2)
Sell
Buy
Sell
Aggregate
⇘
⇒
⇘
The Australian Dollar has been depreciating in a narrow descending channel pattern against the New Zealand Dollar since the beginning of November. The currency pair has declined by 4.25% in value during this period.
All things being equal, the AUD/NZD exchange rate will likely continue to trade south within this week's trading sessions. The potential target for the pair will be near the lower boundary of the channel pattern at 1.0295.
However, the currency exchange rate will most likely make a U-turn from the bottom border of the descending channel pattern during the following trading sessions.
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