EUR/NZD Forecast and Live Chart

The Euro/New Zealand Dollar currency pair (also referred to as EURNZD and EUR/NZD) is a minor currency pair. In this article, we will examine how EURNZD is performing.

EURNZD Key Stats

  • 2021 high: 1.7163
  • 2021 low: 1.6063
  • YTD high: 1.7548
  • YTD low: 1.5593
  • YTD % change: 4.31%

EURNZD Forecast

The EURNZD isn’t a pair on many people’s radar, and if you zoom out to the monthly chart, its move has been relatively sideways compared to previous years pre-2013. While the recent break above1.7061 could be key for a continued bullish move, it is not something we would pin our hats on. We lean slightly bullish for the pair in the near term but don’t rule out a pullback over the next few days/next couple of weeks.

EURNZD chart

EURNZD Fundamental Analysis

Developing a bias in the currency market is integral to a trader’s overall strategy. Investors are constantly entering and exiting the market, and this is what moves the pair on a daily basis over the long term. Therefore, it is important to watch factors such as unemployment, government spending, GDP and inflation, and more.

Over recent months, the euro has faced significant challenges, with the ECB’s decisions causing much debate. The euro was negatively impacted earlier in the year, with Russia’s halt to gas supplies heightening fears of a deepening energy crisis. Energy prices rising resulted in inflation in Europe surging, weighing on the euro, and in 2022 the currency, against many other majors, tumbled as Europe attempted to break away from Russian oil and gas supplies. Despite an initial delay, the ECB has been raising rates and is expected to continue while inflation remains near record highs.

The New Zealand Dollar is generally impacted by tourism. The currency benefits as the number of visitors increases. However, since the pandemic began, tourists have fallen well below their usual numbers. This has had a negative impact on the NZD. In 2022, tourists travelling to New Zealand have shown signs of increasing, although it is still well below the levels seen before the pandemic. As for inflation, New Zealand has not been immune to the significant rise. Therefore, the Reserve Bank of New Zealand has had to raise rates considerably.

Related Articles

EURNZD Technical Analysis

Over the course of 2022, the EURNZD has been up and down, up 4% at the time of writing. As always, we keep an eye on crucial support and resistance levels, with 1.7061 an area we see as a key level for a potential downside move if it were to break. Below that, we look to 1.6847 and 1.6530 as other potential downside targets on a long-term basis.

On the other hand, to the upside levels include the pair’s previous highs of 1.7548 and 1.7928 are areas from which the price could retrace. The EURNZD has.

The pair is currently trading well above its 50 and 100-day moving average on the daily chart. However, it tends to stick fairly tightly to the 20-MA, and the recent fall below may indicate a near-term retracement.

Trade EURNZD with our top brokers

Broker Features Regulator Platforms Next Step
Number One Broker BlackBull Markets LogoYour capital is at risk Founded: 2014
  • Leverage Up To 500:1
  • $200 Min Deposit
  • 60+ Tradeable Instruments
FSPR MT4
tickmill_logo-173 % of retail CFD accounts lose money Founded: 2014
73 % of retail ...
  • Ultra-fast execution from 0.1s
  • Low spreads from 0.0 pips
  • All trading strategies allowed
FSA SC MetaTrader 4, Web Trader
Your capital is at risk Founded: 2006
Europe* CFDs ar...
  • 40% New Member Bonus
  • Regulatory licenses across 5 continents
  • 24/7 trading
ASIC, FSA, FSB, MiFID MetaTrader4, Sirix, AvaOptions, AvaTrader, Mirror Trader
Your capital is at risk Founded: 2020
  • Impressive range of trading platforms
  • Tight spreads and low commissions
  • Excellent customer services
  • STP and ECN trade execution
- Pro Trader, MT4, MT5
vantage logoYour capital is at risk Founded: 2009
  • Leverage up to 500:1
  • $200 Min Deposit
  • Spreads from 0.0
CIMA MetaTrader 4, MetaTrader 5, WebTrader
LegacyFX LogoYour capital is at risk Founded: 2012
  • Meta Trader 5 Trading platform
  • Exclusive professional trading tools
  • Dedicated support staff during all trading hours
BaFin, CySEC, FCA, NBRB, VFSC MetaTrader 5
Between 74-89% of CFD traders lose Founded: 2010
Between 74-89 % of retail investor accounts lose money when trading CFDs
  • Four user-friendly trading platforms
  • Consistently rater No1 for Trader Support
  • Set up by traders, for traders
ASIC, FCA MetaTrader 4, MetaTrader 5, cTrader
AdroFX LogoYour capital is at risk Founded:
  • Crypto deposits possible
  • Bonus offers
  • Leverage up to 1:500
  • MT4 and Allpips platforms
FSA, VFSC MetaTrader 4, Web Trader, Social Trading Allpips, Web Platform Allpips
Your capital is at risk Founded: 2000
  • Good range of assets, such as CFDs
  • Fully regulated brokerage
  • Multi-lingual reporting
DFSA, FCA, FINMA, MFSA, only EU traders), SFC FCA (Swissquote LTD MT4, MT5, AdvancedTrader
Trade360 LogoYour capital is at risk Founded: 2013
  • Over 200 Tradeable Accounts
  • $50 no deposit bonus
  • Trading Central Insight Portal
CySEC CrowdTrading
Oanda Logo77% of retail CFD accounts lose money Founded: 1996
  • No Minimum Deposit
  • Over 100 instruments
  • Web, desktop, mobile platform and MT4

ASIC, FCA, IIROC, MAS fxTrade, MT4
vt markets logoYour capital is at risk Founded: 2016
ASIC, CIMA MT4
Your capital is at risk Founded: 2015
  • $50 Min Deposit
  • Flexible Leverage
  • Low Min Order Values
FCA, SCB MT4
Your capital is at risk Founded: 1991
73.05% of investors lose money when trading CFDs with FXCM
  • Enhanced Execution and pricing.
  • Award-winning trading platform
  • Free Access to Exclusive Trading Tools
- FXCM Trading Station (Web, Desktop, Mobile), FXCM MetaTrader 4, NinjaTrader
city index new75% of clients lose money. Capital at risk. Founded: 1983
  • Exceptional customer service
  • Beginner-friendly
  • Free Webinars
ASIC, FCA, MAS Advantage Web, AT Pro, MT4, WebTrader
Exness LogoYour capital is at risk Founded: 2008
  • Instant automated withdrawals 24/7
  • Commission-free Standard accounts
  • Some of the lowest spreads on the markets and stable execution
  • Unlimited leverage
  • Free VPS Hosting
CySEC, FCA, FSA, FSCA MT4, MT5, WebTerminal
Your capital is at risk Founded: 2017
FSC XOH, MT5,
SquaredFinance LogoYour capital is at risk Founded: 2016
CySEC
fusion markets logoYour capital is at risk Founded: 2017

Lowest Commissions in Australia

$4.50 per lot RT

ASIC, VFSC MT4
Your capital is at risk Founded: 2012
Trading in Forex/ CFDs and Other Derivatives is highly speculative and carries a high level of risk. It is possible to lose all your capital. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose.
  • High leverage.
  • Variety of trading tools.
  • Multilingual support.
  • Excellent range of educational tools
  • Leverage up to 1:1000
  • Spreads from 0.3 Pips
  • Only a $10 minimum deposit
FSA, FSC MT4, MT5, WebTrader, Proprietary Mobile App