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Euro/New Zealand Dollar (EUR/NZD) Exchange Rate
EUR/NZD Pivot Points
EUR/NZD Latest Updates
Despite the release of a disappointing New Zealand terms of trade index for the third quarter, with a contraction in trade volume grabbing the attention of traders,
Selling pressure on the EUR/NZD has eased as the bullish impact of the surprise Reserve Bank of New Zealand’s decision to keep interest rates unchanged at 1.00% is fading.
Monthly economic indicators by the New Zealand Treasury were released during the Asian trading session and they painted a weak economic picture for the small, export oriented economy.
After China kept its 1-Year and 5-Year Prime Loan Rate unchanged, against a backdrop of expectations
Economic data out of New Zealand showed that its service sector continued to expand in September, but at a slightly slower pace.
EUR/NZD: Is a short-term reversal on the horizon?
The Eurozone economy is slowing down faster than expected as evident in last week’s economic data which came in below expectations.
Get the EUR/NZD Forex signal for October 27, 2016 here.
The EUR/NZD pair fell during the day initially on Thursday, but found support at the 1.65 region and bounced rather significantly.
The EUR/NZD pair fell during the session on Tuesday, slamming into the 1.59 level. With that, it appears that the market is testing a large support region that could influence the longer-term move of this marketplace.
The EUR/NZD pair fell during the session on Friday, as we continue to hang around the 1.58 level. The Euro itself is in trouble overall, but then again so is the New Zealand dollar.
The EUR/NZD pair fell slightly during the session on Friday, but as you can see sits just above the psychologically significant 1.55 handle. This area has been rather supportive lately, as we have been consolidating, but as you can see we have been in a downtrend for some time.
The EUR/NZD pair fell yet again during the session on Thursday, breaking down below the 1.55 support level. However, you can see that we bounce back above it and now the question then becomes whether or not we can continue lower.
The EUR/NZD pair fell rather hard during the session on Wednesday, breaking below the 2 lows that we had seen recently near 1.5750 or so. Because of this, we have broken the backs of 2 significant hammers, and I believe that this market is about to start falling significantly.
The EUR/NZD pair has been in a nice downtrend for some time now. Quite frankly, the 1.58 level has been a bit port of, but we are now closing with a fresh, new closing low.
The EUR/NZD pair tried to rally during the session on Thursday, but the Euro got beat down against the New Zealand dollar, as it was against most other currencies.
The battle between the EURO and Kiwi rages on with the pair passing the bearish/bullish torch back and forth with enough regularity since April to form a very clear 4 hour ascending channel.
EUR/NZD isn't a pair of that a lot of you trade I would suspect. However, it does feature two prominent and major currencies, and the spread is very reasonable - normally somewhere around five pips. However, it is a good currency pair to watch as far as the "risk on" type of trade.
Start your trading week with a Forex signal for the EUR/NZD pair here.
The EUR/NZD pair is one that most of you probably don't pay too much attention to, and that is truly unfortunate. After all, it has a decent spread, and it involves two major currencies. However, it is also a very technical currency pair as you can see by the attached chart.