EUR/NZD 1H Chart: Channel Up

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Source: Dukascopy Bank SA
© Dukascopy Bank SA
EUR/NZD has been climbing since early December, forming the channel up pattern that now is 139-bar long. Recently, the pair has managed to surpass its short-term SMA thus becoming a subject to a noticeable buying pressure that aided the pair to rebound to a two-day high, close to which it is vacillating now. Meanwhile, technical indicators are sending neutral signals for short, medium and long terms.
© Dukascopy Bank SA
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