EUR/NZD 4H Chart: Decline could continue

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Indicator4H1D1W
MACD(12;26;9)SellSellBuy
RSI(14)BuyNeutralNeutral
Stochastic(5;3;3)NeutralBuyNeutral
Alligator(13;8;5)SellSellBuy
SAR(0.02;0.2)SellSellBuy
Aggregate

The common European currency has declined by 236 pips or 1.32% against the New Zealand Dollar since last week's trading sessions. The exchange rate breached the 50-, 100– and 200– period SMAs last week.

All things being equal, the currency pair could continue to edge lower during the following trading sessions. The potential target for the EUR/NZD pair would be at the 1.7450 level.

However, the weekly support level at 1.7571 could provide support for the currency exchange rate in the shorter term.

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