The common European currency continued to appreciate against the New Zealand Dollar after the pair touched the lower bottom of an ascending trend-line.
The exchange rate has been trading in a large-scale triangle after it hit the upper boundary on November 30, 2017. Also, the currency pair has formed a new junior pattern during this period.
A support cluster set by the combination of the 55-, and 200—hour SMAs and the weekly pivot point at 1.6839 was providing enough support to push the price north. However, the surge could be stopped by the weekly R1 at 1.6945 near the border of the junior pattern.
