NZD/USD 1H Chart: Channel Down

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Source: Dukascopy Bank SA
© Dukascopy Bank SA
Despite the fact the Kiwi is currently rebounding versus the US Dollar inside the boundaries of the channel down pattern, the pair is highly likely to be rejected by the weekly pivot point in the nearest future. This resistance is placed just below the pattern's upper edge at 0.6750, and the Kiwi has already attempted to test this mark yesterday and today. Moreover, daily technical indicators assume a decline of the pair in the next 24 hours. On the contrary, 55-hour SMA is going to cross the 100-hour SMA soon, signalling that NZD/USD is reversing its current downtrend. Moreover, 61% of SWFX market participants are holding bullish open positions on the New Zealand Dollar at the moment.

© Dukascopy Bank SA
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Thu, 09 Jul 2015 12:38:05 GMT

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Thu, 09 Jul 2015 06:15:54 GMT

EUR/NZD 1H Chart: Channel Down

EUR/NZD appears to be forming a bearish channel, and if the currency pair finally closes beneath the long-term SMA, the bearish outlook will be confirmed. From below the potential losses are limited by the support trend-line, which is reinforced by the weekly pivot point. Another dense demand zone is supposed to be circa 1.6350 (Jul 1 low). In the meantime,

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