| 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 | ⇒ | ⇘ | ⇘ |
[ANNOUNCE]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.
[/ANNOUNCE]
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.