EUR/NZD forecast for today by Traders Union analysts
EUR/NZD is a pair that belongs to the category of crosses (in respect of the U.S. dollar) or minors in the Forex market. Euro acts as the base currency of the pair, and the New Zealand dollar is the quoted currency. Although the U.S. dollar is not a part of the pair, it has a significant impact on the quote.
Notably, the EUR/NZD pair is not a major currency pair in the Forex market. The situation in the Forex market, commodity, and food prices set the general trend for the exchange rate.
The liquidity of the pair is rather small, and the spreads are high for the existing volatility (usually up to 20 points), which should be considered by traders. It will be difficult for those who prefer scalping on short time frames to make a profit.
TU experts use various methods of technical analysis, including support/resistance levels, indicators, chart figures, and patterns, to make the EUR/NZD forecast. This helps traders determine the approximate price movement in the near future.
EUR/NZD continue to be bought from 1.7980 support
26.04.2024
Euro bears failed to break the 1.7980 support against the New Zealand dollar, and in the face of sustained demand, bulls are currently attempting to break 1.8030 resistance. In the short term, the pair may continue to consolidate between the aforementioned support and the 1.8050-1.8080 resistance level. A breakout from the range will indicate the direction of further movement.
EUR/NZD may break current support
25.04.2024
Against the backdrop of persistent pressure on the euro against the New Zealand dollar, bulls failed to break 1.8045 resistance, and bears are currently re-testing 1.7990 support. Its breakout looks inevitable, and then the euro will continue to decline toward 1.7940-1.7920. Breaking 1.8015 will lead to a growth toward 1.8040-1.8070.
EUR/NZD returns to support at 1.7995
24.04.2024
The rebound of the euro from 1.7995 support to 1.8070 resistance against the New Zealand dollar was predictably used for selling, amidst which the euro returned to the aforementioned support. The risk of its breakout and decline toward 1.7960-1.7920 has significantly increased. Crossing 1.8020 will lead to a growth toward 1.8040-1.8060. Attempts at growth may still be used for selling.
EUR/NZD under pressure after the rise
23.04.2024
The decline of the euro against the New Zealand dollar was halted by demand at the level of 1.7980. After the release of strong German statistics, the pair surged toward 0.8073, where the euro is sold again and bears may test 0.8020-0.8000. A break of resistance will lead to a growth toward 0.8100.
EUR/NZD persists in its decline
22.04.2024
After declining against the New Zealand dollar to find support near 1.8070, the euro failed to break resistance around the 81st figure, leading to the break of support and decline to the psychological level of 1.8000. The nearest resistance now stands at 1.8050, below which the risks of breaking 1.8000 and declining toward 1.7960-1.7930 prevail. Breaking resistance will lead to a growth toward 1.8070-1.8100.
EUR/NZD declines after rising
19.04.2024
Rebounding from 1.7990 support against the New Zealand dollar, the euro broke resistance at 1.8050 and tested the level of 1.8131, after which it declined to 1.8060. Breaking this support, the euro will continue to decline toward 1.8020-1.8000, but attempts to test 1.8100-1.8120 are still possible.
Euro/New Zealand dollar consolidates within a range
18.04.2024
In the pair with the New Zealand dollar, the euro also consolidates after growth. In this case, the pair's exchange rate fluctuations occur within the range between resistance 1.8060-1.8100 and support at 1.8000. In the short term, bulls may continue attempts to break resistance. Loss of support will lead to a decline toward the 79th figure.
Euro/New Zealand dollar collapsed toward 1.7965 support
17.04.2024
The continued growth of the euro against the New Zealand dollar was stopped by the interest for sale at the approach to the 81st figure. Under pressure, the euro dipped toward the support level of 1.7965, where it continued to be bought. A return to the price above the psychological level, which is 1.800, implies testing of the resistance level of 1.8040-1.8060, but the euro can again be sold on the growth. The plans of the ECB to cut interest rates in the near term could have a negative impact on the dynamics of the single European currency.
Euro/Kiwi back to strong resistance
16.04.2024
Continued buying of the euro against the New Zealand dollar led to the breakdown of a number of resistances, including in the area of 1.8000/10 and its rise to resistance at 1.8090. From this point of view, sales and declines towards 1.8050-1.8020 are again possible; a confident break of resistance will open the way towards 1.8150-1.8180.
Euro/Kiwi rebounded to 1.7930
15.04.2024
Euro bears again failed to break the support around 1.7850 in the New Zealand dollar pairing, and amid the liquidation of long positions, the euro bounced back to resistance at 1.7930. On the upside, the euro continues to sell, so bears may try to break support again; passing resistance will lead to a rise towards 1.7960-1.7990.
Euro/Kiwi testing support at 1.7850
12.04.2024
The recovery of the euro against the New Zealand dollar to the resistance around 1.7990 gave the bears the opportunity to sell it again at a better price. At the moment, they are trying to break the support around 1.7850 in case the euro continues to decline towards 1.7800; passing the resistance at 1.7890 will lead to a rise toward 1.7930.
Euro/Kiwi under pressure after rebounding upwards
11.04.2024
The euro's decline against the New Zealand dollar was halted by buying interest from the 1.7850 level, helped by the anti-risk sentiment following the release of a strong US inflation report. Against this backdrop, the euro was able to return to resistance near 1.7990, where it was sold again and is currently trading near the 79 figure. The Kiwi's fall may continue, so the euro may test resistance at 1.7950-1.7980; a loss of 1.7900 will lead to a decline towards 1.7860.
Euro/Kiwi declined to 1.7860
10.04.2024
Amid continued selling pressure, the euro broke support yesterday near 1.7910 and declined towards 1.7860 support against the New Zealand dollar. Pullbacks are currently limited to 1.7890 resistance, below which risks of breaking support and declining towards 1.7830-1.7800 prevail; passing current resistance would lead to an upside towards 1.7940.
Euro/Kiwi remains under pressure
09.04.2024
Euro selling for the New Zealand dollar led to its fall from resistance near 1.8040 to support at 1.7970. From it, bulls may try to test 1.8020-1.8040 again; loss of support will lead to a decline towards 1.7940-1.7910. The RBNZ will announce its interest rate decision on Wednesday, which may affect the euro/kiwi dynamics.
Euro/Kiwi is trying to continue its recovery
08.04.2024
In the pair with the New Zealand dollar, the euro tried to break through the resistance around 0.8020-0.8040, which continues to cope with its task. Below these levels, risks of breaking through the psychological level of 1.8000 and declining towards 1.7970-1.7950 prevail; passing the resistance will provide growth towards 1.8060-1.8080, where bears' activation is also possible.
Euro/Kiwi remains under pressure
05.04.2024
After breaking the support around the levels of 1.8020-1.8000, the euro continued its decline against the New Zealand dollar and tested the support at 1.7960, after which it rolled back to the resistance at 1.8020. From this level, bears can continue selling and test the support at 1.7960, and in case of its breakdown, the euro will continue to decline towards the 79th figure; passing the resistance will lead to growth in the direction of 1.8050-1.8070.
Euro/Kiwi broke the support and continues to decline
04.04.2024
The euro bulls failed to break the resistance around 1.8080-1.8100 in the pair with the New Zealand dollar, which led to the loss of support at 0.8010/00 and the pair's decline to 1.7956 at the moment. Sellers' pressure remains, and with it, the downside risks towards 1.7900; passing 1.8000/10 will lead to a rise to 1.8030-1.8040, where the euro could be sold again.
Euro/Kiwi remains in a range
03.04.2024
The euro fluctuations in the pairing with the New Zealand dollar are still limited by support near 1.8010 and resistance at 1.8070. The bulls' failure raises risks of a support breakdown and a decline towards 1.7980-1.7950; passing the resistance will provide growth towards 1.8100-1.8130. In the short term, consolidation may continue.
Euro/Kiwi testing support at 1.8015 again
02.04.2024
Demand for the euro from the support around 1.8015 paired with the New Zealand dollar contributed to testing the resistance at 1.8070, after which the euro was again under selling pressure, leading to a decline back to the above support for the time being. Its breakdown and decline towards 1.7950 looks the most likely development in the near term; passing 1.8030/40 will lead to a rise towards 1.8070-1.8100.
Euro/Kiwi is under moderate pressure
01.04.2024
Euro sales for the New Zealand dollar from resistance near 1.8100 led to its fall to support at 1.8010, which at this stage is doing well. Nevertheless, the nearest resistance is around the 1.8050 level, below which the risks of breaking the support and falling towards 1.7980-1.7950 remain, but breaking this resistance would take the euro/kiwi towards 1.8080-1.8100.
Euro/Kiwi retreats from the current high
29.03.2024
For the New Zealand dollar, the euro was sold on the upside to resistance around 1.8100 after testing, which it declined to support at 1.8030. Upside attempts can be used to sell and test support around the psychological 1.8000 level; a break of 1.8060 resistance would allow bulls to test 1.8080-1.8100.
Euro/Kiwi moves higher
28.03.2024
The Euro was again repurchased to the New Zealand Dollar from support around 1.8010/00, and this time, the bulls broke through resistance around 1.8070 and tested 1.8069. Pullbacks are currently limited to 1.8080 support, indicating upside potential towards 0.8110-0.8130; a loss of 1.8080/70 would lead to a decline towards 1.8050-1.8030.
Euro/Kiwi sells from 1.8070
27.03.2024
After a pullback to support near the psychological level of 1.8000 in the pair with the New Zealand dollar, the euro returned to resistance at 1.8070, where it was sold again. This increases the risks of a break of support and a decline towards 1.7950, which may be facilitated by a possible decline in the Aussie/Kiwi cross rate. A break of resistance would lead to a rise towards the 81 figure.
Euro/Kiwi is in demand on octats
26.03.2024
In the pair with the New Zealand dollar, the euro continues to be in demand on pullbacks towards the psychological level of 1.8000. Currently, the nearest support is around the level of 1.8030, and resistance is around the level of 1.8070, which the bulls are not able to break through yet. If the Aussie/Kiwi cross rate declines, the pair may break the support and retreat to 1.8000, and its breakdown will entail a decline towards 1.7960; a confident breakdown of the resistance will allow the bulls to test the 81st figure at least.
Euro/Kiwi moves higher
25.03.2024
The Euro's pullbacks against the New Zealand Dollar continue to attract buying interest, with the bulls breaking resistance around the psychological 1.8000 level and testing 1.8050 resistance. The Euro outlook remains constructive, and next, bulls may test 1.8070-1.8100 resistance, but bears may become active on the way to it.
Euro/Kiwi continues to grow
22.03.2024
The euro's decline against the New Zealand dollar attracted buying interest from 1.7895. After testing it, the euro returned to resistance around the psychological level of 1.8000, broke it and rose towards 1.8030 for now. Next, the bulls may test the level of 1.8050. Its breakdown will lead to growth towards the 81st figure; loss of support at 1.7990 will lead to a decline towards 1.7960/50.
Euro/Kiwi declines after unsuccessful attempts to break through resistance
21.03.2024
For the New Zealand dollar, the euro sold off after the bulls unsuccessfully attempted to break through resistance in the area of 1.6650. As a result of the fall, support around 1.6570 was broken, and 1.6480 support was tested. From it, attempts may be made to bring the pair back to the resistance at 1.6550-1.6570, where it may be sold again; loss of support will lead to a decline towards 1.6450/40.
Euro/Kiwi continues to grow
20.03.2024
In the pair with the New Zealand dollar, the euro was able to overcome resistance around 1.7900 and test resistance at 1.7960. On pullbacks, it is being bought back, and the bulls may test the psychological level of 1.8000; a loss of support at 1.7930 will lead to a decline from 1.7880 to 1.7860.
Euro/Kiwi under pressure after attempts to continue growth
19.03.2024
The euro failed to break the resistance, nearly 1.7900, in the pair with the New Zealand dollar, which was the reason for moderate profit taking on longs and the return of the euro to support at 1.7850. From it, attempts to break through the resistance are possible; loss of support will lead to a decline towards 1.7820-1.7800.
Euro/Kiwi is approaching strong resistance; correction risks are growing
18.03.2024
The breakthrough of resistance near 1.7790 by the euro bulls ensured its growth against the New Zealand dollar to the level of 1.7895. At this stage, the euro is trying to consolidate above the broken level of 1.7865, which will increase the chances of passing the current resistance and growth in the direction of strong resistance at 1.7935, on the way to which the bears may become active; loss of support at 1.7865/50 will lead to a decline in the direction of 1.7820-1.7800.
EUR NZD Chart
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What is the purpose of the EUR/NZD forecast?
EUR/NZD is a cross pair. It is necessary to take into account the influence of the U.S. dollar, as it is involved in currency conversion for buy/sell transactions. It is important for inexperienced traders not only to find the forecast but also correctly read it. The pair will grow when the euro strengthens, and if the New Zealand dollar strengthens, the price will drop.
The peak of trading activity for the EUR/NZD pair falls on Friday, and Tuesday is the quietest day. Trading is active both during the Pacific and European sessions. Trading is quieter during the U.S. session, but you also shouldn’t expect a flat. Some days show significant volatility. The EUR/NZD pair has a reversion correlation with NZD/CHF, GBP/USD, and NZD/USD.
Technical analysis by TU experts will help you make the right trading decision. In addition, the following factors capable of impacting the price performance, need to be taken into account:
- Monetary policy in the eurozone and New Zealand;
- Economic indicators of the countries and their trade balances;
- The prices of agricultural and commodity products (they influence the NZD price).
FAQ
1
Does the U.S. dollar have an influence on EUR/NZD?
Despite the fact that the U.S. dollar is not a part of the EUR/NZD pair, it has a direct impact on the quote, as it is involved in the currency conversion for buy/sell transactions.
2
How is the EUR/NZD forecast made?
Traders Union analysts use technical analysis for making the EUR/NZD forecast for each trading day. In particular, they analyze support and resistance levels, patterns, technical
indicators, etc.
3
What other factors should be taken into account when trading EUR/NZD?
When trading the EUR/NZD pair, it is important to correctly interpret technical analysis, consider the influence of the U.S. dollar (as it is a cross pair for it), and also such factors as monetary policies and economic indicators of New Zealand and the European Union, trade balances and agricultural and commodity prices.
4
Is EUR/NZD suitable for scalping?
The EUR/NZD pair is not particularly suitable for fans of scalping for two reasons: low volatility and rather high spreads. It will be difficult to make a profit in short time frames.