| 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) | Neutral | Neutral | Buy |
| SAR(0.02;0.2) | Buy | Sell | Buy |
| Aggregate | ⇒ | ⇒ | ⇗ |
The Australian Dollar has declined by 82 pips or 0.76% against the New Zealand Dollar since April 8. The currency pair revealed a narrow descending channel pattern during this period.
All things being equal, the exchange rate is likely to continue to edge lower in the descending channel pattern during the following trading sessions. The potential target for bearish traders will be near the 1.0750 level.
However, a support line at 1.0787 could still provide support for the AUD/NZD currency exchange rate within this week's trading sessions.