NZD/CAD 4H Chart: Bounces off support

The New Zealand Dollar has been edging lower in an ascending channel pattern against the Canadian Dollar. The currency pair has declined by 1.94% in value since December 31.

The exchange rate bounced off the lower boundary of the ascending channel pattern at 0.8617 during yesterday's trading session.

All things being equal, the NZD/USD pair will likely make an upside movement during the following trading sessions. The short-term target will be at 0.8740.

Although, a resistance cluster formed by the 100– hour SMA, the weekly R1 and the monthly PP at 0.8691 could provide resistance for the currency exchange rate in the nearest future.

NZDCAD

 

NZD/JPY 4H Chart: Buy signals

The New Zealand Dollar has been edging higher against the Japanese Yen since November 15. The currency pair has surged by 2.35% in value since last week's trading sessions.

As for the near future, the exchange rate could continue to surge in an ascending channel pattern. The potential target for the NZD/JPY pair will be at the upper boundary of the channel pattern at 74.33.

Furthermore, technical indicators suggest that the currency exchange rate will most likely continue to edge higher during the following trading sessions.

NZDJPY

This overview can be used only for informational purposes. Dukascopy SA is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained.

Analysis feed

Latest Forex Analysis

Editors’ Picks

EUR/USD hits two-month lows amid USD strength

EUR/USD has pared its gains that followed upbeat preliminary PMIs for Germany came out above expectations, pointing to a recovery. The USD is advancing amid fears of the coronavirus.

EUR/USD News

GBP/USD drops below 1.31 amid USD strength, fails to sustain PMI gains

GBP/USD is trading below  1.31 after hitting a fresh high of 1.3172. The UK Manufacturing PMI beat with 49.8 and Services PMI with 52.9. The USD is gaining ground across the board.

GBP/USD News

Cryptos: Bears take over and draw a bloody moon

Despite appearances, Bitcoin is the asset with the best risk/benefit ratio. The current falls are adjusted to the ranges of the previous rise. Downward momentum expires in the first half of February.

Read more

Gold rebounds above $1560

The XAU/USD pair dropped to a daily low of $1556.70 during the European trading hours as the easing worries over coronavirus becoming a global epidemic and a broad-based USD strength put the pair under bearish pressure.

Gold News

USD/JPY stuck in range around 109.50 amid China coronavirus concerns

USD/JPY sticks to its range play around the midpoint of the 109 handle amid rising fears of the Chinese coronavirus outbreak globally, upbeat Japanese CPI data and a minor bounce seen in the US dollar across the board. Focus shifts to US PMIs. 

USD/JPY News

Forex Majors

Cryptocurrencies

Signatures