The EURNZD pair is an interesting pair on a return to a positive risk tone. It is one I have been watching and we can now see a decent reversal pattern setting up that was pointed out to me.
The EUR's funding currency status led to shorts unwinding post Omicron variant fears. With those fears fading, and the ECN set to remain dovish, then EUR weakness should return.
The NZD is great valiue and about to go on a rate hiking spree. If risk returns then NZD should gain quickly.
Entry is on the break of the neckline.
