Eurnzd news
Here are the latest news and updates on the EUR/NZD currency pair:
Current Rate: 1 EUR = 1.73 NZD
Market Analysis:
- The EUR/NZD pair has been trading in a narrow range over the past few days, with the euro struggling to gain traction against the New Zealand dollar.
- The pair is currently trading near its 50-day moving average, which is acting as a level of resistance.
- The RSI is indicating a neutral reading, suggesting that the pair is neither overbought nor oversold.
- The next level of resistance is seen at 1.76 NZD, while the next level of support is seen at 1.69 NZD.
Economic News:
- The European Central Bank (ECB) is set to meet on Thursday to discuss monetary policy. The market is expecting the ECB to keep interest rates unchanged, but there is a possibility of a dovish tone being adopted.
- The New Zealand dollar is expected to be boosted by the country's strong economic fundamentals, including a low unemployment rate and high commodity prices.
- The Reserve Bank of New Zealand (RBNZ) is set to meet on Wednesday to discuss monetary policy. The market is expecting the RBNZ to keep interest rates unchanged, but there is a possibility of a hawkish tone being adopted.
Technical Indicators:
- The EUR/NZD pair is trading above its 20-day moving average, which is a bullish sign.
- The MACD is indicating a bullish crossover, which suggests that the pair may continue to rise.
- The Stochastic Oscillator is indicating a bullish reading, which suggests that the pair may continue to rise.
Trading Recommendations:
- Long-term traders may consider buying the EUR/NZD pair at current levels, with a target of 1.76 NZD.
- Short-term traders may consider selling the EUR/NZD pair at current levels, with a target of 1.69 NZD.
- Traders may also consider trading the pair based on the ECB and RBNZ monetary policy decisions.
Please note that these are just general market analysis and trading recommendations, and should not be taken as investment advice. It's always important to do your own research and consider your own risk tolerance before making any trading decisions.