FX News

EURO/NZD Transfer

The New Zealand Dollar (NZD) tracked higher into the close and extended in early week trading to reach 0.5710 (1.7515) against the Euro (EUR). The cross looks to target the yearly high from early January around 0.5740 (1.7420) as the kiwi gains pace. ECB president Lagarde was on the wires saying “we need to be more confident” that inflation is on track to hit its 2% target before considering rate cuts. NZ Retail Sales prints Friday and could come in much less than expected for the December quarter.

Current Level: 1.7559
Resistance: 1.7900
Support: 1.7500
Last Weeks Range: 1.7516- 1.7699

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