| Indicator | 4H | 1D | 1W |
| MACD (12; 26; 9) | Sell | Sell | Buy |
| RSI (14) | Neutral | Neutral | Neutral |
| Stochastic (5; 3) | Neutral | Neutral | Neutral |
| Alligator (13; 8; 5) | Sell | Sell | Buy |
| SAR (0.02; 0.2) | Buy | Sell | Buy |
| Aggregate | ⇘ | ⇒ | ⇗ |
The single European currency has been trading in a four-month descending channel against the New Zealand Dollar. The currency pair tested the upper boundary of a junior pattern on December 1 followed with a new wave down.
The Euro has since been moving in a slight uptrend, however, a resistance cluster set by the weekly pivot point and the combination of the 55-, 100, and the 200– hour SMAs near the 1.7005 area continues to pressurized the price movement south.
Everything being equal, the EUR/NZD currency exchange rate is likely to decline further until it breaches the bottom border of a dominant channel during the following trading sessions.