The New Zealand Dollar is trading against the Swiss Franc simultaneously in the two descending channels. The junior channel began to form right after the RBZN announced the Official Cash Rate, which led to fall of the Kiwi. At the current moment, the currency rate is trading just above the bottom trend line of the dominant channel, which forms a strong support cluster together with the monthly S1 located at the 0.6735 level. Accordingly, the pair most likely will bounce off from it and begin an upward movement to test the weekly S1 at 0.6789. As a result of this surge, the junior channel will be broken.
| Level | Rationale | Indicator | 4H | 1D | 1W | |||
| R4 | 0.6833 | Upper Bollinger Band | MACD (12; 26; 9) | Sell | Sell | Sell | ||
| R3 | 0.6789 | Weekly S1 | RSI (14) | Sell | Sell | Sell | ||
| R2 | 0.6786 | 20-period SMA | Stochastic (5; 3; 3) | Buy | Neutral | Neutral | ||
| R1 | 0.6776 | Trend line | ADX (14) | Sell | Neutral | Sell | ||
| S1 | 0.6743 | Trend line | CCI (14) | Sell | Sell | Neutral | ||
| S2 | 0.6738/35 | Bottom Bollinger Band; Monthly S1 | AROON (14) | Buy | Buy | Buy | ||
| S3 | 0.6707 | Weekly S2 | Alligator (13; 8; 5) | Buy | Buy | Buy | ||
| S4 | 0.6698 | Trend line | SAR (0.02; 0.2) | Sell | Sell | Sell | ||
| Aggregate | ↘ | ↘ | ↘ |