| Indicator | 4H | 1D | 1W |
| MACD (12; 26; 9) | Sell | Buy | Buy |
| RSI (14) | Neutral | Neutral | Neutral |
| Stochastic (5; 3) | Sell | Sell | Sell |
| Alligator (13; 8; 5) | Sell | Neutral | Buy |
| SAR (0.02; 0.2) | Buy | Buy | Sell |
| Aggregate | ⇘ | ⇒ | ⇒ |
The common European currency has appreciated substantially against the New Zealand Dollar since February. This bullish movement has been constrained by a nine-month ascending channel. During the past few days, however, this bullish sentiment has not been so idiosyncratic, as the rate was trading sideways.
A strong resistance cluster set by the monthly pivot point with the combination of the 100– and 200– hour SMAs near 1.6914 was restricting the EUR/NZD pair from making any upwards moves.
Given that the currency exchange rate has moved closer to the lower boundary of a medium-scale triangle, a breakout is likely to occur during the following trading sessions.