NZD/CAD 1H Chart: Kiwi weakens from five-month high

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

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 Buy
Aggregate ⇒ ⇗ ⇘

[ANNOUNCE] The New Zealand has appreciated substantially against the Canadian Dollar since early December, thus forming an ascending channel. [/ANNOUNCE] This pattern is a part of a senior channel whose upper boundary circa 0.91 was tested on January 11; this mark is likewise a five-month high. 

The Kiwi has since reversed from the given area and initiated trading lower. If looking at the pair's movement within the following two weeks, it should approach a trend-line near the 0.8950 mark. 

Meanwhile, technical indicators suggest that the rate might still appreciate today. However, it does face a significant resistance cluster formed by the 55– and 100-hour SMAs and the monthly R1. Thus, the base scenario favours a minor price increase until 0.91 where the bearish sentiment should take the upper hand and prevail for several sessions.

Actual Topics