| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Buy | Buy |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Sell | Neutral | Neutral |
| Alligator(13;8;5) | Sell | Buy | Buy |
| SAR(0.02;0.2) | Buy | Sell | Buy |
| Aggregate | ⇘ | ⇒ | ⇗ |
[ANNOUNCE] The Euro has been appreciating against the New Zealand since the end of July when the EUR/NZD currency pair reversed north from the lower boundary of the rising wedge pattern at 1.6535. [/ANNOUNCE]
As apparent on the chart, the exchange rate has already reversed south from the upper pattern line at 1.7550. From a theoretical point of view, it is likely, that some downside potential could prevail in the market, as the rate should target the lower wedge boundary. It is unlikely, that a breakout south could occur due to the lower boundary of the long-term ascending channel at 1.6570.
Note, that the rate has to surpass the Fibo 23.60% at 1.7123. If the given support level holds, it is likely, that the pair could re-test the upper wedge line. If the given wedge does not hold, a breakout north could occur within the following trading sessions.