| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Sell | Buy |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Buy | Neutral | Neutral |
| Alligator(13;8;5) | Neutral | Sell | Buy |
| SAR(0.02;0.2) | Sell | Buy | Sell |
| Aggregate | ⇒ | ⇒ | ⇒ |
At the beginning of July, the EUR/NZD currency pair reversed from the support level formed by the monthly S1 at the 1.6796 mark.
Note, that the exchange rate is pressured by the 55-, 100– and 200-hour moving averages, currently located in the 1.6914/1.6947 range. Thus, it is likely, that some downside potential could prevail in the market. In this case, the rate could be supported by the Fibonacci 38.20% retracement at 1.6634. Also, it is unlikely, that the rate could drop lower than 1.6550 due to the lower boundary of the long-term ascending channel.
However, if the given support level holds, it is expected, that the pair could maintain its growth. A possible upside target is the trend line located circa the 1.735 mark.