EURNZD

(Last Updated November 27, 2020)

Hello! This is the news page for EURNZD. Below you’ll find our daily market updates. Here’s a technical analysis summary of where things currently stand:

The Trend

On EURNZD, there is currently a downtrend on the 90, 30 and 14 day timeframes.

EURNZD Moving Averages

Across several time periods between 20 and 200 days, the trend on EURNZD has remained consistently bearish. Moreover, today we saw the 200 moving average turn bearish.

Below is a chart showing EURNZD’s price with its moving averages.

As for assets in the Forex asset class EURNZD has been correlated to over the past week, it has been most correlated with NZDCHF. EURNZD has been most correlated with NZDCHF over the past 14 days also, so this may be a structural correlation in the market. Alternatively, USDCNH has been the asset least correlated with EURNZD — but over the past two weeks, the asset least correlated with EURNZD has been EURCAD. See the chart below to observe the recent price action in EURNZD versus those of assets it hasn’t been well correlated with.

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The View From the Weekly Timeframe

At the time of this writing, EURNZD’s rate is down -0.011 (-0.64%) from the week prior. It’s been a feast for bears operating on the weekly timeframe, as EURNZD has now gone down 5 of the past 5 weeks. If you’re a trend trader, consider that the strongest clear trend on the weekly chart exists on the 10 week timeframe. Looking further out, the moving averages on the weekly timeframe suggest a bearishness in price, as the 20 and 50 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend. 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.