| Indicator | 4H | 1D | 1W |
| MACD (12; 26; 9) | Sell | Sell | Sell |
| RSI (14) | Neutral | Neutral | Neutral |
| Stochastic (5; 3) | Buy | Neutral | Buy |
| Alligator (13; 8; 5) | Sell | Sell | Sell |
| SAR (0.02; 0.2) | Sell | Sell | Sell |
| Aggregate | ⇘ | ⇘ | ⇘ |
The Australian Dollar continues to depreciate against its New Zealand counterpart in a long-term descending channel. The pair has once again returned near its bottom boundary and has remained located there since last week.
It is likely that the pair still edges lower during the following trading sessions, as suggested by bearish technical indicators on 4H, 1D and 1W time-frames. However, this fall should not be significant, as the pair is currently located either at or near the oversold territory. A possible downside potential in the short-term could be the weekly and monthly S2s and the bottom boundary of the most junior channel circa 1.0450. This would require an adjustment to the senior channel.
Subsequently, the pair is expected to recover from its several-month low and return back to the combined resistance of the 55-, 100– and 200-hour SMAs and the weekly PP in the 1.0560/1.0600 territory. This bullish movement should likewise continue in the medium term.