| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Sell | Buy |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Neutral | Neutral |
| Alligator(13;8;5) | Sell | Sell | Neutral |
| SAR(0.02;0.2) | Sell | Sell | Sell |
| Aggregate | ⇘ | ⇘ | ⇒ |
The common European currency has declined by 2.54% against the New Zealand Dollar since October 20. A breakout occurred through the lower boundary of an ascending channel pattern during last week's trading sessions.
All things being equal, the EUR/NZD exchange rate could continue to decline within this week trading sessions. The potential target for bears would be near the 1.7400 level.
However, a support cluster near the 1.7555 area could provide a barrier for bearish traders during the following trading sessions.