Indicator | 4H | 1D | 1W |
MACD (12; 26; 9) | Buy | Buy | Sell |
RSI (14) | Neutral | Neutral | Neutral |
Stochastic (5; 3) | Sell | Sell | Sell |
Alligator (13; 8; 5) | Buy | Buy | Sell |
SAR (0.02; 0.2) | Sell | Buy | Buy |
Aggregate | ⇒ | ⇗ | ⇘ |
The New Zealand has appreciated substantially against the Canadian Dollar since early December, thus forming an ascending channel. This pattern is a part of a senior channel whose upper boundary circa 0.91 was tested on January 11; this mark is likewise a five-month high.
The Kiwi has since reversed from the given area and initiated trading lower. If looking at the pair's movement within the following two weeks, it should approach a trend-line near the 0.8950 mark.
Meanwhile, technical indicators suggest that the rate might still appreciate today. However, it does face a significant resistance cluster formed by the 55– and 100-hour SMAs and the monthly R1. Thus, the base scenario favours a minor price increase until 0.91 where the bearish sentiment should take the upper hand and prevail for several sessions.