EUR/NZD 1H Chart: Channel Down

Being that EUR/NZD carried insufficient momentum in order to surpass a level of 1.7155 about 60 hours ago, the currency pair is now inclined to descend. As a result, there now appears to be a channel down on an hourly chart with the resistance trend-line at 1.6768 and the support trend-line at 1.6563.

However, the long-term moving average for 200 periods situated at 1.6747 is currently blocking the way south, a factor that may lead to a bullish break-out from the pattern. In the meantime, both technicals and sentiment index among the SWFX marketplace participants are mixed.