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 continued its decline
16.05.2024
Investor risk appetite contributed to yesterday's rise in the New Zealand dollar, causing the euro to break 1.7855 support and fall to the 1.7740 level against it. Currently, the closest resistance stands at 1.7805. Below this level, the chances of retesting and surpassing 1.7740 remain significant. Breaking resistance will lead to a growth toward 1.7840-1.7850.
EUR/NZD continued its decline
15.05.2024
Another attempt by the euro bulls to break the 1.7940 resistance against the New Zealand dollar was also unsuccessful. Under pressure again, the euro broke the 1.7910-1.7890 support and dropped to the 1.7850 support. Bulls may try to attack levels between 1.7880-1.7900 from the current levels. Losing support will lead to a decline toward 1.7800. Attempts to rise may be used for selling.
EUR/NZD retreated to 1.7890
14.05.2024
All yesterday's attempts by the euro bulls to break 1.7940 resistance against the New Zealand dollar were unsuccessful, resulting in breaking 1.7915 support and a decline to 1.7890. Further attempts to attack the above resistance are possible. Losing support will lead to a decline toward 1.7860.
EUR/NZD is under pressure from the 1.7940 level
13.05.2024
With consistent demand in the EUR/NZD pair, the euro has reached the 1.7940 resistance level, which bulls are currently unable to surpass. Risks of decline toward 1.7900-1.7860 still persist, but breaking the resistance will lead to a growth toward 1.7970-1.8000.
EUR/NZD bought on the dip
10.05.2024
Yesterday, the euro remained under selling pressure and tested 1.7855 support against the New Zealand dollar, but it was bought here and bulls tested 1.7920 resistance. In the short term, the pair may continue to trade between the aforementioned support and 1.7950/60 resistance, which may be tested in case of passing the current resistance.
EUR/NZD risks further decline
09.05.2024
The euro was sold against the New Zealand dollar yesterday as it rose toward 1.7960 resistance. After testing this level, it declined to 1.7890/80 support. Current efforts to go up are held back by 1.7920 resistance, showing the chance of breaking support and dropping to 1.7850. Breaking resistance will lead to a growth toward 1.7950-1.7980.
EUR/NZD may continue to decline
08.05.2024
Euro bulls failed to break 1.7925 resistance against the New Zealand dollar during yesterday's trading session. Its decline, however, is still limited by support at the 79th figure, but the risks of breaking it and declining toward 1.7860-1.7830 currently prevail. Breaking resistance will lead to a growth toward 1.7960-1.7990, where the euro may again be sold.
EUR/NZD remains under pressure
07.05.2024
In the pair with the New Zealand dollar, the euro remains under selling pressure, preventing bulls from breaking 1.7930 resistance, while bears continue their attempts to return the pair to 1.7870-1.7850 support. The risks of declining to these levels currently prevail. Breaking resistance will lead to a growth toward 1.7960-1.7990, where the euro may be sold again.
EUR/NZD is under steady selling pressure
03.05.2024
The euro sales against the New Zealand dollar on a pullback to 1.8070 resistance led to a breakout of 1.8025 support and a decline to 1.7960 support at the moment. Next, bears could test 1.7920 support, where euro buys may occur. Breaking 1.7980 resistance will increase the chances of passing the psychological level of 1.8000 and growing toward 1.8030-1.8050.
EUR/NZD bought from 1.8025
02.05.2024
Euro buying from the 1.8055 support level against the New Zealand dollar pushed the pair back to the 1.8100 resistance, where it was sold again, testing the 1.8025 support this time. Bulls are currently attempting to break 1.8055/70 resistance, which could lead to a test of 1.8090-1.8100. The current rise could be used for selling and retesting 1.8025 support.
EUR/NZD tested 1.8150
01.05.2024
Buying the euro instead of the New Zealand dollar made the euro go up from 1.7920 to 1.8150, but then it dropped back to 1.8090. Attempts to rise to the current highs are possible from this level. Losing support will lead to a decline toward 1.8040-1.8000.
EUR/NZD is clawing back losses
30.04.2024
The decline of the euro against the New Zealand dollar was halted by 1.7920 support, where the euro was bought back, allowing it to recover almost all losses from previous sessions and test 1.8045 resistance. As the euro ascends, there's potential for it to be sold once more, followed by a reassessment near the psychological level of 1.8000. A breakout of 1.8060 will lead to a growth toward 1.8100-1.8130.
EUR/NZD continues decline
29.04.2024
In the pair with the New Zealand dollar, the euro remains under selling pressure, which broke the 1.7980 support and tested the 1.7925 support. Selling interest persists on rebounds, and bears, having broken the support, may test the 79th figure at a minimum. Breaking 1.7980 resistance will lead to a growth toward 1.8010. The recovery could again be used for selling.
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.
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.