| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Sell | Sell |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Neutral | Buy |
| Alligator(13;8;5) | Neutral | Sell | Sell |
| SAR(0.02;0.2) | Buy | Sell | Sell |
| Aggregate | ⇒ | ⇘ | ⇘ |
The common European currency has declined by 235 pips or 1.38% against the New Zealand Dollar since January 19. The currency pair breached the 50– and 100– period SMAs during last week.
As for the near future, the exchange rate could continue to edge lower in a descending channel pattern. Bearish traders are likely to target the 1.6600 area during this week's trading sessions.
However, the weekly support level at 1.6813 could provide support for the EUR/NZD currency exchange rate in the shorter term.