| Indicator | 4H | 1D | 1W |
| MACD (12; 26; 9) | Sell | Sell | Buy |
| RSI (14) | Buy | Buy | Neutral |
| Stochastic (5; 3) | Neutral | Buy | Buy |
| Alligator (13; 8; 5) | Sell | Sell | Neutral |
| SAR (0.02; 0.2) | Sell | Sell | Sell |
| Aggregate | ⇒ | ⇒ | ⇗ |
The New Zealand Dollar has been steered by a long-term descending pattern against its Canadian counterpart. The exchange rate made a U-turn from the upper boundary of a junior descending channel on March 14 and has since hit a five-month low level.
Since May 8, the 55– hour simple moving average has provided a strong resistance that has pushed the price movement further south. However, the decline has been temporarily stopped by the weekly S3 at 0.8855.
The overall market sentiment still remain bearish, therefore, the NZD/CAD currency exchange rate is likely to continue its decline during the following trading sessions. In addition, technical indicators flash strong sell signals.