It’s been a quiet few weeks of economic releases in the Euro (EUR), New Zealand Dollar (NZD) pair with the first significant piece of economic data to be released since mid-December being next week’s NZ CPI and ECB cash rates reports. The kiwi made gains through November to year end coming from 0.5470 (1.8280) to reach 0.5755 (1.7380) just prior to Christmas before giving back the advantage. We have certainly seen a pullback of risk in 2024 the Euro reaching 1.7700 (0.5650) overnight.
Current Level: 1.7677
Resistance: 1.7700
Support: 1.7420
Last Weeks Range: 1.7487 – 1.7645