During last week’s trading sessions, the Eurozone single currency fell by 1.65% against the New Zealand Dollar. The currency pair is currently trading in a narrow descending channel pattern.
Technical indicators suggest selling signals on the 4H and daily time-frame charts. Most likely, the exchange rate could continue to trend lower during the following trading sessions.
However, the EUR/NZD currency exchange rate could encounter support near the 1.6500 level this week.
