Listen to the market mood for the EURNZD currency pair in the coming session:

Strong NZD
The NZD should remain strong as at this Wednesday’s rate meeting the RBNZ played down coronavirus fears and adjusted the forecasts for their future rate path up 0.20 bps to 1.10% by June 2021. This is revising up the previous forecasts of 0.9% through to March 2021.

Weak EUR
The EUR remains weak at the moment due to a continued slowdown in Eurozone growth and expectations of further ECB easing.

Therefore, expect EURNZD at pullbacks.

Risks to this outlook
Any positive Eurozone news or negative NZD news from the coronavirus spreading.