| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Sell | Buy |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Neutral | Neutral |
| Alligator(13;8;5) | Neutral | Sell | Buy |
| SAR(0.02;0.2) | Buy | Sell | Buy |
| Aggregate | ⇒ | ⇘ | ⇗ |
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.
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.