NZD/USD 1H Chart: Rectangle

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Source: Dukascopy Bank SA
© Dukascopy Bank SA
Kiwi has been trading in a 150 pip range for the past 7 sessions. Technical indicators suggest that the pair is likely to depreciate further, most likely until it reaches the pattern's support. Short and medium term Stochastic indicator suggests that the pair should start appreciating soon.  Rally is likely to be ignited by the mentioned pattern's support. Although long term technicals  give aggregate negative outlook we should take in to account the fact that quite a few technicals give neutral outlook indicating pair might stay in the pattern's range.

© Dukascopy Bank SA
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