NZD/CAD 4H Chart: Channel Up

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
The kiwi has been extremely bullish in the recent weeks, and all kiwi-crosses reached fresh highs. Regarding the NZD/CAD pair, it has reached its historically highest level on March 19 and so far, bulls were not strong enough to climb any further. The pair is overbought and this fact is supported by MACD indicator on a variety of timeframes. Therefore, it was not a surprise that the pair eased back to the lower boundary. From the downside the pair is supported by a 200-period SMA and pattern's support, hence, without any strong bearish bias, the pair will continue appreciating. Moreover, the outlook is bullish, when being based on aggregate technical indicators.
© Dukascopy Bank SA
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