NZD/CAD 1H Chart: Channel Up

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
Our pattern-finding widget in the platform has captured the most recent 130 hours of NZD/CAD as those composing a bullish channel, but it seems that the trend-lines may be extended even farther into the past, namely until the very end of August, when the present rally was started at a low of 0.8131. This fact only enhances the reliability of the support at 0.8570, with which NZD/CAD is presently struggling. Accordingly, there is a good chance that the New Zealand Dollar will soon resume its tendency to appreciate with respect to the loonie, a scenario also implied by the daily technical indicators.
© Dukascopy Bank SA
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Tue, 24 Sep 2013 07:44:05 GMT

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