NZD/CAD 1H Chart: Pressured by 100– and 200-hour SMAs

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Indicator 4H 1D 1W
 MACD(12;26;9) Sell Sell Buy
 RSI(14) Neutral Neutral Neutral
 Stochastic(5;3;3) Neutral Neutral Neutral
 Alligator(13;8;5) Sell Sell Buy
 SAR(0.02;0.2) Sell Buy Sell
 Aggregate

The NZD/CAD currency pair has been trading within the ascending channel since the beginning of 2019.  

Currently, exchange rate is testing the resistance level formed by the 100– and 200-hour SMAs at 0.9032. From a theoretical point of view, the pair is expected to target the upper channel line located circa 0.9250, thus, it is likely that the pair surpasses given resistance in the nearest future. 

If given resistance holds, it is likely that the rate re-tests the lower channel line located circa 0.8960. If given channel does not hold, a breakout south might occur within following sessions.

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