NZD/CAD 4H Chart: Triangle

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
NZD/CAD was locked between two gradually converging lines during more than two months ended April 24 when the pair broke through the upper limit of the 252-bar long triangle pattern.
Now is the right time to make some profit on the pair, as a bullish breakout from a triangle pattern usually leads to an accelerating advancement of the instrument. If these ideas come true, the pair may sequentially target three important resistance zones at 0.9528/9 (four-hour R1, daily R1), 0.9540/56 (four-hour R2, R3; daily R2) and 0.9595 (daily R3). In case the pair succeeds in overcoming these levels, a five-year high at 0.9661 will seem more attainable.
© Dukascopy Bank SA
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