NZD/CAD 1H Chart: Triangle

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
Pair has been slowly narrowing its trading range and formed a triangle pattern. Pattern's support and resistance are set to intersect on 12th of July, 09:00 GMT at 0.8216. Although technical indicators do not give any clear aggregate readings, we could focus on few things. First of all, the Stochastic indicator on the 1H Chart (on the left). It sends sell signal suggesting the pair should rebound from the pattern's resistance. Secondly, the neutrality of the aggregate readings suggests that the pair should remain somewhat range bound for the time being.

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