EUR/NZD (week of 17-21/06)

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Weekly Summary

EUR/NZD ends yesterday stable around 1.7471 .

A good end to the trading week, EUR/NZD is up to 1.7471, after closing yesterday at zero. Overall, a 0% move or 17,471 pips this week. (Trade EUR/NZD with FXTM now).

Jun. 21, 2024

EUR/NZD set for weak finish today; down 0.1% to 1.7471 with 10 minutes before close

(23:48) GMT

EUR/NZD drops from 1.7489 to 1.7471, losing 17 pips (0.1%) today.

Although EUR/NZD is pointing down today (was as low as 1.7416), it's climbing away from the 1.7427 support line and is now 44 pips above it. Despite being in the red so far in the current trading session, EUR/NZD peaked above its 10 day Simple Moving Average around 1.7493 — typically an early indicator of a new bullish trend beginning to emerge. Bollinger Bands® shows an indication of recovery: the lower band is at 1.7372, a low enough level to, generally, suggest that EUR/NZD is trading below its fair value.

Despite suffering losses in today's session, technical analysis is indicating that EUR/NZD will undergo a significant bounce in the immediate term.

Though EUR/NZD has been dropping, other pairs have been performing better: USD/JPY added 0.54% to its value, now trading at 159.77. EUR/JPY is up 0.48%. GBP/JPY gained 0.47% and is now trading at 202.1.

Trading mostly sideways for a month. EUR/NZD has shed 60.85% over the past three months.

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