| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Buy | Buy | Sell |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Sell | Neutral | Neutral |
| Alligator(13;8;5) | Buy | Buy | Sell |
| SAR(0.02;0.2) | Buy | Buy | Buy |
| Aggregate | ⇗ | ⇗ | ⇒ |
The NZD/CAD currency pair has been trading upwards since the beginning of October. This movement has been bounded within the medium-term ascending channel.
Given that the exchange rate is supported by the 55-, 100– and 200-hour moving averages, it is likely that some upside potential could prevail in the market. The rate could continue to trade within the given trend in the nearest future. However, if the given channel does not hold, the rate could target the Fibo 38.20% at 0.8736.
However, note that the pair would have to surpass the resistance level formed by the Fibo 23.60% at 0.8551. If the given level holds, it is likely that a reversal south could occur. It is unlikely that bears could prevail, and the pair could drop lower than the psychological level at 0.8250.