AUD/NZD 1H Chart: Channel Down

Note: This section contains information in English only.
Source: Dukascopy Bank SA
The Australian Dollar is depreciating against the New Zealand Dollar in a descending channel pattern. The channel down is aimed at the 38.20% Fibonacci retracement level, which is located at the 1.0654 level. It is most likely that that level will be a critical one. However, the channel has already passed the support put up by the 50.00% Fibonacci retracement level, which is located at the 1.0849 level. The Fibonacci retracement levels for this pair are measured by connecting the 2015 low and 2015 high levels. The SWFX market sentiment indicates that the pair will continue to decline. The reason for that is the fact that the pair is close to being overbought, as 67% of trader set up orders are long.

  Level  Rationale     Indicator 1H 4H 1D
R4 1.0826 Monthly PP; 100-hour SMA     MACD (12; 26; 9) Sell Sell Buy
R3 1.0781/87 55-hour SMA; weekly S1     RSI (14) Buy Buy Neutral
R2 1.0770 Trend line     Stochastic (5; 3; 3) Sell Sell Sell
R1 1.0732 Monthly S1     ADX (14) Sell Sell Neutral
S1 1.0689 Trend line     CCI (14) Neutral Buy Neutral
S2 1.0661 Weekly S2     AROON (14) Buy Buy Buy
S3 1.0654 38.20% Fibo     Alligator (13; 8; 5) Sell Sell Neutral
S4 1.0596 Weekly S3     SAR (0.02; 0.2) Sell Sell Buy
          Aggregate ↘ ↘ ↗
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Fri, 05 May 2017 11:24:36 GMT

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