FX.co ★ EUR/NZD

The past week in the EURNZD currency pair was boring. The bearish bias remains, but there is clearly not enough activity. Let’s see how events develop next week, but a decline is a realistic option. To begin with, sellers need to break through 1.9590, after which they can move down to 1.9530. After consolidating below 1.9530, the decline can continue to 1.9470 and 1.9410. If they manage to consolidate below 1.9410, then sellers will have a chance to move down to 1.9285. The first prerequisite for EURNZD growth will be consolidation above 1.9655; after that, buyers can rise to 1.9715 and 1.9775, but this rise may turn out to be a pullback. Consolidation above 1.9775 may lead to a continued move up to 1.9835 and 1.9895. There are still many interesting targets above, but first these need to be overcome.