| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Buy | Sell | Sell |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Neutral | Neutral |
| Alligator(13;8;5) | Buy | Sell | Sell |
| SAR(0.02;0.2) | Buy | Buy | Sell |
| Aggregate | ⇗ | ⇒ | ⇘ |
The Australian Dollar has surged by 125 pips or 1.19% against the New Zealand Dollar since the beginning of February. The currency pair breached the 50– period SMA on February 5.
Currently, the exchange rate is trading near the upper line of a descending channel pattern and could be set for a breakout.
If the breakout occurs, a surge towards the 1.0850 level could be expected during this week's trading sessions.
However, if the channel pattern holds, bearish traders would continue to pressure the currency exchange rate lower in the descending channel pattern in the nearest future.