EURNZD

(Last Updated April 15, 2021)

Welcome to the news page for EURNZD (EURNZD). Below you’ll find our daily market updates. Here’s a technical and fundamental summary of where things currently stand:

Forex Calendar for EURNZD

metric_name reference_period asset_name asset_id date time forecast outcome
New Zealand Business NZ PMI Mar 2021 New Zealand Dollar NZD 2021-04-15 22:30 GMT
Euro Area Eurogroup Video Conference NA Euro EUR 2021-04-16 08:00 GMT
Euro Area Core Inflation Rate YoY Final Mar 2021 Euro EUR 2021-04-16 09:00 GMT 0.9%
Euro Area Inflation Rate YoY Final Mar 2021 Euro EUR 2021-04-16 09:00 GMT 1.3%
Euro Area Balance of Trade Feb 2021 Euro EUR 2021-04-16 09:00 GMT

The Trend

As for trends on EURNZD, we’re seeing an uptrend on shorter timeframes — but a downtrend on the 90 day timeframe. The countertrend on the shorter timeframe may provide an opportunity to sell for those interested in playing the longer term trend.

EURNZD Moving Averages

The moving averages on EURNZD summarize its price action in an interesting way. The 20 and 50 day averages are pointing upwards, suggesting a bullish trend, while the 100 and 200 day averages are pointing downward, suggesting a bearish trend on those timeframes. Ultimately, this suggests a bullish trend on shorter timeframes, compared to a bearish trend when observing more than 3 months of data.

The chart below illustrates.

In terms of correlations over the past week for EURNZD, it has been most correlated with NZDJPY. Over the past 14 days, however, NZDCHF is the asset most correlated to EURNZD. Alternatively, the asset least correlated with EURNZD over the past week has been GBPAUD, but if we observe the prior two weeks, the asset least correlated with EURNZD has been NZDCAD. The chart below illustrates EURNZD against its least correlated assets.

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The View From the Weekly Timeframe

At the time of this writing, EURNZD’s rate is down -133 pips (-0.79%) from the week prior. Moreover, note that this is a reversal of the price action on the previous week, in which price moved up. As for the trend on the weekly timeframe, we see the clearest trend on the 20 week timeframe. Looking further out, the moving averages on the weekly timeframe suggest a choppiness in price, as the are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders. EURNZD’s weekly price action over the past 52 weeks can be seen via the chart below.

EURNZD: The Monthly View

Clearest trend on the monthly is apparent at the 60 month timeframe.

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