The EUR/NZD exchange rate is currently trading in a downtrend. The currency pair has been forming lower highs and lower lows since June 15, 2023. The RSI is also in a downtrend, which suggests that the selling pressure is likely to continue.
Traders who are looking to buy the EUR/NZD exchange rate could consider doing so at the current levels. However, traders should be aware of the risks involved, including the possibility of further weakness in the currency pair.