NZD/CAD 1H Chart: Channel Down

FX:NZDCAD   New Zealand Dollar/Canadian Dollar
NZD/CAD 1H Chart: Channel Down

  • The New Zealand Dollar is losing value against the Canadian Dollar in a short-term descending channel , which started to form after the Kiwi appreciated by 0.9% just in one trading session.

  • In the beginning, the currency rate was moving quite sharply amid macroeconomic data releases and, for this reason, stayed indifferent towards barriers set up by various technical indicators.
  • Monday’s trading session did not bring any notable changes, as the pair has easily slipped through the weekly PP and S1 as well as the 55-, 100- and 200-hour SMAs.
  • Since the rate does not have any other barriers on its way, it might reach the bottom edge of the channel already by the end of this trading day.
  • However, multiple technical indicators suggest that in the upcoming hours the pair will rather move horizontally along the above weekly S1 at 0.9326 and only then slide to the bottom.
Check out our Webinar YouTube channel

Check out our trading platform:
EN English (UK)
EN English
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out