AUD/NZD 4H Chart: Decline likely to continue

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Source: Dukascopy Bank SA
Indicator4H1D1W
MACD(12;26;9)SellSellBuy
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)BuyBuyNeutral
Alligator(13;8;5)SellSellNeutral
SAR(0.02;0.2)SellSellSell
Aggregate⇘⇘⇒

[ANNOUNCE]The Australian Dollar has declined by 0.61% against the New Zealand Dollar since July 1. The currency pair was pressured lower by the 50– and 200– period SMAs during last week's trading sessions.[/ANNOUNCE]

By and large, the exchange rate is likely to continue to edge lower in a descending channel pattern during the following trading sessions. The potential target for the AUD/NZD pair will be near the 1.0620 area.

However, the weekly support level at 1.0673 might provide support for the currency exchange rate in the shorter term.

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