| Indicator | 4H | 1D | 1W |
| MACD (12; 26; 9) | Sell | Buy | Buy |
| RSI (14) | Neutral | Neutral | Sell |
| Stochastic (5; 3) | Sell | Sell | Sell |
| Alligator (13; 8; 5) | Sell | Buy | Buy |
| SAR (0.02; 0.2) | Sell | Buy | Buy |
| Aggregate | ⇓ | ⇗ | ⇒ |
After reaching the 2016/2017 low of 1.4631 in February, EUR/NZD began trading in an ascending channel. The rate tested the upper boundary of this long-term pattern circa 1.72 late in October and has since edged lower down to 1.68.
As apparent on the chart, two other patterns are also active—a channel up and a descending wedge.
Taking into account characteristics of these two patterns and technical indicators, it is likely that upside risks become dominant in the market, thus setting the Euro for a slight appreciation in the short term.
An immediate upside target could the weekly PP and the 200-hour SMA circa 1.70 or the weekly R1 at 1.71. As a result, the rate would retrace from a previously-breached channel line. In the medium-term, however, it is still expected that the downward pressure could take the upper hand and push the rate closer to the 1.67 area.