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EUR/NZD 4H Chart: Decline likely to continue

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

[ANNOUNCE]The common European currency has been depreciating in a descending channel pattern against the New Zealand Dollar since October 14. The currency pair declined by 274 basis points during last week's trading sessions.[/ANNOUNCE]

The exchange rate is currently trading near resistance levels at the 1.7311/1.7358 area.

If the resistance lines hold, the EUR/NZD exchange rate could make a downside reversal within this week's trading sessions.

However, if the currency exchange rate breaks the resistance level, a surge towards the 1.7600 marks during the following trading sessions.

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