NZD/USD 4H Chart: Channel Down

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
After hitting a several-year high in mid-October, the New Zealand Dollar started to retreat versus its U.S. counterpart; however, the pair embarked on formation of the channel down pattern only in the very end of October. Now the pair is trading below its 50- and 200-bar SMAs that recently have created a ‘death' cross thus putting additional selling pressure of the currency couple. Market players are divided on the future prospects of the pair, with the proportion of long to short positions being 1:1.
© Dukascopy Bank SA
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