| 4H | 1D | 1W | |
|---|---|---|---|
| MACD(12;26;9) | Buy | Sell | Buy |
| RSI(14) | Sell | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Sell | Buy |
| Alligator(13;8;5) | Buy | Neutral | Buy |
| SAR(0.02;0.2) | Buy | Buy | Sell |
| Aggregate | ⇗ | ⇒ | ⇗ |
During August, the NZD/CAD exchange rate dropped to the 0.8600 level and reversed north. Note that since the beginning of August, the rate has been guided by a descending trend line.
From a theoretical point of view, it is likely that some downside potential could prevail in the market. In this case the currency pair could gain support from the Fibo 23.60% at 0.8551.
In the meantime, note that the pair could gain support from the 55-, 100– and 200-hour SMAs in the 0.8680/0.8800 area. Thus, the pair could break the given trend line and trade upwards.