| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Buy | Sell | Sell |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Neutral | Neutral |
| Alligator(13;8;5) | Buy | Neutral | Sell |
| SAR(0.02;0.2) | Buy | Buy | Sell |
| Aggregate | ⇗ | ⇒ | ⇘ |
The New Zealand Dollar has been depreciating against the Canadian Dollar within the descending channel since the beginning of September. As apparent on the chart, the NZD/CAD currency pair has been testing the upper channel line since the beginning of October.
From a theoretical point of view, it is likely that the exchange rate reversed south in the nearest future, as it should target the lower channel line located in the 0.8150/0.8250 range.
However, note that the currency pair is supported by the 200-hour moving average, currently located at 0.8362. Therefore, if the given channel does not hold, some upside potential could prevail in the market within the following trading sessions. A possible upside target is the Fibo 23.60% at 0.8551.