NZD/CAD 4h Chart: Channel Up

Note: This section contains information in English only.
Source: Dukascopy Bank SA

Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Buy Buy
RSI (14) Sell Sell Neutral
Stochastic (5; 3) Buy Sell Sell
Alligator (13; 8; 5) Buy Buy Buy
SAR (0.02; 0.2) Buy Buy Buy
Aggregate

The New Zealand Dollar is trading against the Canadian Dollar in a medium term, rather narrow range ascending channel pattern. The channel represents the currency exchange rates rebound against the lower trend line of a large scale channel up pattern. Meanwhile, the pair is highly affected by the Fibonacci retracement levels of the 2016 high and 2017 low levels. In particular, the currency rate has faced the resistance of the retracement levels. Most recently the Kiwi encountered the resistance of the 23.60% Fibonacci retracement level at the 0.9751 level against the Loonie. Most likely a retreat will occur, which will be followed by another attempt to break the resistance. That attempt is set to succeed.

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