AUD/NZD 1H Chart: Channel Down

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
After peaking at 1.1442 more than 100 bars ago the currency pair started to decline and eventually has breached the long-term moving average for 200 periods. Being that AUD/NZD's recent bearish behaviour has been contained by the two parallel trend-lines, there is a good chance the Australian Dollar will continue to depreciate relative to the kiwi.
Moreover, the hourly and four-hour technical indicators are giving ‘sell' signals, meaning the price is highly unlikely to surge beyond 1.1365 in the near future. Instead it is expected to move south, towards the lower boundary of the pattern at 1.1295.
© Dukascopy Bank SA
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