EUR/NZD 4H Chart: Channel Up

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
The common European currency is simultaneously trading in three channels against the New Zealand Dollar. On a large and medium scale the pair is in two descending channel's, and the medium scale channel is a representation of the rates bounce off and the following fall against the larger channel's upper trend line. Meanwhile, on a smaller scale the pair is in an ascending channel, which formed as a result of the pair's rebound against the two before mentioned descending channel support lines on December 13 near the 1.4690 level. However, most recently the short term surge has been hindered, as the pair has reached the 200-period SMA, which is providing resistance.
© Dukascopy Bank SA
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Mon, 19 Dec 2016 09:33:58 GMT

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