NZD/CAD 4H Chart: Channel Up

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
The New Zealand Dollar is surging in an ascending channel pattern against the Canadian Dollar, as the rate recently rebounded against the pattern's lower trend line at 0.9440. Moreover, the currency exchange rate is in an ascending triangle pattern on a larger scale, and the recent movements of the pair have been consistent with both patterns. In accordance with both patterns the Kiwi is set to have a breakout against the Loonie during this or the next week. On its way to the triangle pattern's upper trend line, the currency exchange rate is set to encounter the weekly pivot point at 0.9488. After breaking through the pivot point's resistance, there will be no other delays in the rates surge.
© Dukascopy Bank SA
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