Automatic wave scan: as of 20 Oct 2026, the automatic daily count for EUR/NZD is Wave 5 down with a bearish bias. The count stays valid while price holds 2.0161.
Current EUR/NZD wave count
Automatic wave scan Updated daily from the latest daily close (20 Oct 2026). Computer generated from swing highs and lows, not reviewed by an analyst.
Automatic scan: price is in wave 5, the final leg of a five wave decline that began at 2.0236 on 28 Jun 2026. Next levels to watch are 1.9718 and 1.9560. The count fails on a daily close above 2.0161.
Key levels
| Type | Levels |
|---|---|
| Resistance | 2.0161 · 1.9773 |
| Support | 1.9519 · 1.9437 |
| Invalidation | 2.0161 |
What is EUR/NZD?
EUR/NZD pairs the large euro with the smaller, risk sensitive kiwi. When markets are calm and New Zealand rates are high, the pair tends to fall. In stressed markets, it usually rises.
Its liquidity is lower than major pairs, so spreads can widen during quiet hours.
What moves the EUR/NZD price?
- Risk sentiment: Risk-off periods lift EUR/NZD.
- RBNZ and ECB policy: Rate expectations drive trends.
- Dairy prices: These influence the kiwi.
- China data: Chinese demand affects New Zealand exports.
How EUR/NZD moves in Elliott Wave terms
EUR/NZD often makes large, clear impulses during market stress and long, overlapping declines in calm periods. Its corrective phases often form double threes.
Use the daily chart for the main count.
Tips for counting EUR/NZD waves
Account for wider spreads and trade during the London session for better liquidity.
EUR/NZD key facts
EUR/NZD Elliott Wave FAQ
Why does EUR/NZD rise in a crisis?
The kiwi is a risk sensitive currency and weakens more than the euro when markets are fearful.
Is EUR/NZD volatile?
Yes. It often has a wider daily range than many major pairs.
What drives EUR/NZD?
Risk sentiment, RBNZ and ECB policy and New Zealand export prices.
Sources and further reading
- BIS Triennial Central Bank Survey of foreign exchange turnover (Bank for International Settlements)
- Monetary policy decisions (European Central Bank)
- Official Cash Rate (Reserve Bank of New Zealand)
Educational content only. Nothing on this page is financial advice or a recommendation to buy or sell. Trading involves risk and you can lose money. Elliott Wave counts are probabilities, not certainties. Read our full disclaimer and affiliate disclosure.
