| Indicator | 4H | 1D | 1W |
| MACD (12; 26; 9) | Sell | Sell | Buy |
| RSI (14) | Neutral | Buy | Neutral |
| Stochastic (5; 3) | Neutral | Neutral | Neutral |
| Alligator (13; 8; 5) | Sell | Sell | Neutral |
| SAR (0.02; 0.2) | Sell | Sell | Sell |
| Aggregate | ⇘ | ⇘ | ⇒ |
The common European currency has been trading in a descending pattern against the New Zealand Dollar since mid-May. The currency pair has depreciated 3.77% since it reversed from the upper boundary of a dominant descending channel on May 15.
The Euro continues to diminish its trading range and moving in a narrow channel. During the last three sessions, the exchange rate has been bouncing between 1.6789 and 1.6613.
It is likely that a breakout could occur from the narrow descending channel within the next trading days.