| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Buy | Sell | Sell |
| RSI(14) | Neutral | Neutral | Buy |
| Stochastic(5;3;3) | Neutral | Neutral | Buy |
| Alligator(13;8;5) | Neutral | Sell | Sell |
| SAR(0.02;0.2) | Sell | Buy | Sell |
| Aggregate | ⇒ | ⇒ | ⇒ |
The New Zealand Dollar has been depreciating against the Canadian Dollar within the descending channel since the beginning of August.
Note that the NZD/CAD exchange rate has been testing the upper channel line since Monday. From a theoretical point of view, it is likely that a reversal south could occur in the nearest future, and the rate could target the lower channel line located in the 0.8250/0.8300 range. However, note that the rate has to surpass the psychological level at 0.8350.
On the other hand, note that the currency pair is supported by the 200-hour SMA, currently located at 0.8434. Thus, if the given channel does not hold, the pair could add to gains. A possible upside target is the Fibonacci 23.60% retracement at 0.8609.