EURNZD At Bearish Breaking Point After Hawkish RBNZ

27 May 2021

EURNZD is moving nicely down this week after RBNZ announced that they may lift rates next year, or maybe even at the end of 2021! As such, NZD is strong across the baord with EURNZD pair now sitting on a corrective channel line where we favour a breakdown as intraday weakness looks impulsive. On a higher time frame, there is interesting trendline coming in around 1.61.