Forecast of the movement of the New Zealand euro pair

The pair is at the basic level

The New Zealand euro pair rose on Friday with the end of the week, and expectations indicate that the European Central Bank will cut interest rates by 25 basis points next week, but the euro remains solid after the statements of Christine Lagarde, president of the European Central Bank, said that the rise of the euro against the dollar represents an opportunity for Europe, which is a result of Trump's volatile policies, which supports the euro.

On the other side of New Zealand, the Reserve Bank of New Zealand cut its official interest rate for the sixth time in a row last Wednesday, and signaled the possibility of further monetary easing in an effort to protect the economy from the impact of trade uncertainty.

At the technical level

The New Zealand euro pair is trading the lows of the downtrend on the four-hour frame and the pair is trying hard to complete the bat harmonic pattern, the target of which is centered at the levels of the resistance cluster, which represents a supply area for the pair near the levels of 1.9065 to 1.9090.

From there, we can start selling the New Zealand euro pair to target the levels of 1.8950 / 30 as an initial target and then the levels of 1.8875 as a final target.

This scenario fails if the 1.9160 levels break higher