USD/CAD 1H Chart: Rising Wedge

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Source: Dukascopy Bank SA
© Dukascopy Bank SA
Since our last report on this currency pair, the US Dollar managed to increase rather noticeably against the Canadian dollar and it inevitably led to emergence of the rising wedge pattern on an hourly chart. Last time the lower boundary of the figure was touched on January 28 around 1.2450 and the pair successfully managed to rise up to the upper trend-line at 1.27. However, since the trading range is constantly decreasing, we see the cross trading mainly sideways in the near term, until the break-out happens to either side. Judging from technical indicators, the US dollar is likely to trade neutral, while SWFX traders are strongly bearish on the perspectives  of the Buck (63% of trades are short).
© Dukascopy Bank SA
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Fri, 30 Jan 2015 14:04:04 GMT

EUR/NZD 4H Chart: Channel Up

In the end of the third week of January the common currency has bottomed out around 1.48 in its pair with the Kiwi. Following that, the Euro began appreciating and has already erased almost all losses that occurred this month. As a result, EUR/NZD formed a channel up figure, the upper boundary of which is currently being tested. According to

Fri, 30 Jan 2015 06:58:21 GMT

AUD/NZD 4H Chart: Channel Up

Although the Aussie is underperforming the Buck, the currency managed to stay within the boundaries of a bullish channel against the Kiwi unlike in the AUD/USD pair. Provided that the rising support at 1.0660 stays intact, AUD/NZD will be in a good position to advance beyond the Jan 28 high at 1.08 and reach the upper edge of the channel

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