| Indicator | 4H | 1D | 1W |
| MACD (12; 26; 9) | Buy | Sell | Buy |
| RSI (14) | Neutral | Buy | Neutral |
| Stochastic (5; 3) | Neutral | Neutral | Buy |
| Alligator (13; 8; 5) | Neutral | Sell | Neutral |
| SAR (0.02; 0.2) | Buy | Sell | Sell |
| Aggregate | ⇗ | ⇘ | ⇒ |
The New Zealand Dollar has been trading in a two-month descending channel. This pattern formed when the pair bounced off the upper boundary of a senior channel near 0.95 mid-March.
If looking in the short-term, the Kiwi reversed from the above medium-term channel circa 0.90 and has since edged slightly higher. It is likely that the rate falls lower today just to test the combined support of the 55-, 100– and 200-hour SMAs, the weekly PP and the junior channel at 0.9030. This area should provide an unbreakable barrier, thus resulting in a reversal.
This bullish sentiment is likely to guide the pair north towards the upper channel line at 0.9125 during the following trading days. The monthly PP and the weekly R2 are likewise located nearby. Subsequently, this medium-term channel is expected to remain intact, thus initiating a new medium-term decline down to the senior channel.
In case the 0.9030 level is breached, the nearest support is set by the weekly S1 at 0.8970.