The best indicator is the price. According to this chart this pairs a well correlated again.
The EURNZD is very confusing now, so we must look for information on the correlated pair NZDCHF .
I have already my job done for this the NZDCHF (see details below), a pattern that is working fine so far:
So if we want to trade the EURNZD the same setup is valid and the R/R ratio is better now.