The EUR/NZD currency pair, which expresses the value of the euro in terms of New Zealand dollars, is currently stabilizing in the region of 1.66 to 1.69. The chart below shows the pair's price action using weekly candlesticks since 2015. Shaded areas have been added to indicate potential areas of support and resistance, while the horizontal blue levels indicate midpoints between these areas. The sloping black line is the 100-week moving average for EUR/NZD.
(Chart created by the author. Source: TradingView. The same applies to subsequent candlestick charts represented hereafter.)
Notice that the 100-week