| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Buy | Sell | Sell |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Neutral | Buy |
| Alligator(13;8;5) | Buy | Sell | Sell |
| SAR(0.02;0.2) | Buy | Sell | Sell |
| Aggregate | ⇗ | ⇘ | ⇘ |
The New Zealand Dollar has been depreciating against the Canadian Dollar since the beginning of June. This movement has been bounded in the descending channel.
Currently, the NZD/CAD exchange rate is testing the upper channel line at 0.8788. From a theoretical point of view, it is expected, that a reversal south could occur in the nearest future, and the rate could target the lower channel line located circa 0.8600.
However, note, that the currency pair is supported by the 55-, 100– and 200-hour SMAs. Thus, if the given channel does not hold, some upside potential could prevail in the market. In this case, the rate could target the Fibonacci 50.00% retracement at 0.8923.