NZD/USD 1H Chart: Channel Up

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
For the last 185 hours NZD/USD has been locked in a wide corridor formed by two parallel upward sloping lines. However, the pair may witness a decline in the nearest term as the SWFX data indicates that bears outweigh bulls, albeit slightly; 56% of all orders are placed to sell the pair. In fact, if selling pressure persists for a longer time period, it may even send the pair to the pattern's support; this view is further bolstered by the SMAs that may create a ‘death cross' in the hours to come thus increasing the downside pressure.
© Dukascopy Bank SA
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