AUD/NZD 4H Chart: Possible breakout from SMAs

Note: This section contains information in English only.
Source: Dukascopy Bank SA

Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Sell Sell
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3) Sell Sell Sell
Alligator (13; 8; 5) Sell Sell Sell
SAR (0.02; 0.2) Buy Buy Sell
Aggregate

The Australian Dollar has been guided by a five-month descending channel against the New Zealand Dollar. The AUD/NZD pair bounced off the upper boundary of a channel down on October 24.

After hitting the 61.80% Fibonacci retracement level, the rate started to decline. However, this decline was stopped by the monthly S1 at 1.0655. The retracement can be measured by connection the low at 1.0655 and the high at 1.1083.

The exchange rate was stranded between weekly PP and the 55-hour simple moving average. Meanwhile, technical indicators suggest the pair could trade sideways.

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