EUR/NZD 4H Chart: Decline could continue

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Source: Dukascopy Bank SA
Indicator4H1D1W
MACD(12;26;9)SellBuySell
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralNeutralNeutral
Alligator(13;8;5)SellBuySell
SAR(0.02;0.2)SellSellBuy
Aggregate⇘⇒⇒

[ANNOUNCE]The common European currency has declined by 1.79% against the New Zealand Dollar since March 24. The decline was stopped by the 200– period SMA during yesterday's trading sessions.[/ANNOUNCE]

Everything being equal, the exchange rate could continue to edge lower during the following trading sessions. The potential target for the EUR/NZD pair will be near the 1.6500 level.

However, the 200– period simple moving average at 1.6666 could still provide support for the currency exchange rate this week.

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