AUD/NZD 4H Chart: Re-tested upper channel

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Source: Dukascopy Bank SA

Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Buy Sell
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3) Sell Sell Sell
Alligator (13; 8; 5) Sell Neutral Neutral
SAR (0.02; 0.2) Sell Sell Buy
Aggregate ⇓ ⇒ ⇒

[ANNOUNCE]The Australian Dollar continued to be trading in a down channel against the New Zealand Dollar after hitting the upper boundary of the dotted channel on January 29.  [/ANNOUNCE]

The currency exchange rate could continue moving south after the upper channel is re-tested .

 During the following trading sessions, the movement is likely to continue downwards to find support at the monthly S2 at 1.0725. In addition, technical indicators favour a further decline for the AUD/NZD pair.

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