| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Sell | Sell |
| RSI(14) | Neutral | Buy | Neutral |
| Stochastic(5;3;3) | Neutral | Buy | Buy |
| Alligator(13;8;5) | Sell | Sell | Neutral |
| SAR(0.02;0.2) | Buy | Buy | Sell |
| Aggregate | ⇒ | ⇒ | ⇒ |
The single European currency has been trading in a descending channel pattern against the New Zealand Dollar since the middle of October. The currency pair has depreciated about 4.44% since October 16.
Everything being equal, the 50– period simple moving average could continue to drive the EUR/NZD exchange rate lower within this week's trading sessions. A potential breakout through the lower boundary of the descending channel pattern could occur this week.
However, a support level formed by the weekly S1 art 1.6785 could provide support for the currency exchange rate during the following trading sessions.