AUD/NZD 1H Chart: Channel Up

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
Having plunged to a two-month low of 1.0547, the Australian Dollar commenced appreciation against the currency of the neighbouring country, the New Zealand Dollar. The advance has been developing in the bullish corridor that has been in place for 256 hours.
Now the currency couple is fluctuating slightly below the 50-hour SMA at 1.0807 but the instrument may overcome this formidable resistance before long considering that more than 76% of all orders at the SWFX are placed to buy the pair. However, technical data is not in favour of bullish scenario, signalling a possible decline in the short-term.
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