| Indicator | 4H | 1D | 1W |
| MACD (12; 26; 9) | Buy | Buy | Sell |
| RSI (14) | Neutral | Neutral | Neutral |
| Stochastic (5; 3) | Sell | Sell | Sell |
| Alligator (13; 8; 5) | Buy | Buy | Sell |
| SAR (0.02; 0.2) | Sell | Buy | Sell |
| Aggregate | ⇒ | ⇗ | ⇓ |
Following a six-week depreciation against the Swiss Franc, the Kiwi managed to reverse early in September and recover half of the losses.
This upward movement revealed the existence of a junior channel up. This pattern, however, is a part of a longer period descending channel in force since mid-July. The pair is gradually approaching the upper boundary of the senior pattern which is located near the 61.8% Fibonacci retracement and the weekly R2 circa 0.7230. It is likely that this area is reached on Monday.
Given that ascending wedge is generally a bearish formation, the Kiwi should break out to the upside, possibly using the aforementioned 0.7230 area as a reversal point. Subsequently, the downside target could be the 200-hour SMA and the 38.2% Fibo near 0.7010 a breakout of which should pave the way for a further decline. If nothing changes in the direction of the pair, it might test the lower boundary of the senior channel in the medium term.