| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Buy | Sell | Sell |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Sell | Neutral | Neutral |
| Alligator(13;8;5) | Buy | Sell | Sell |
| SAR(0.02;0.2) | Buy | Sell | Sell |
| Aggregate | ⇗ | ⇘ | ⇘ |
The Australian Dollar has continued to trade in a narrow descending channel pattern against the New Zealand Dollar. The currency pair declined by 125 basis points during last week's trading sessions.
The exchange rate is currently testing a resistance level formed by the 100– period simple moving average at 1.0408.
If the AUD/NZD pair breaks the resistance level, a surge towards the 1.0480 area could be expected within this week's sessions.
However, if the 100– period SMA holds, bears will continue to drive the currency exchange rate lower during the following trading sessions.