| 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) | Sell | Sell | Buy |
| Aggregate | ⇘ | ⇒ | ⇗ |
The New Zealand Dollar has been edging lower in an ascending channel pattern against the Canadian Dollar. The currency pair has declined by 1.94% in value since December 31.
The exchange rate bounced off the lower boundary of the ascending channel pattern at 0.8617 during yesterday's trading session.
All things being equal, the NZD/USD pair will likely make an upside movement during the following trading sessions. The short-term target will be at 0.8740.
Although, a resistance cluster formed by the 100– hour SMA, the weekly R1 and the monthly PP at 0.8691 could provide resistance for the currency exchange rate in the nearest future.