The New Zealand Dollar (NZD) has closed out the day in negative territory against the Euro (EUR) dropping through daily support at 0.5525 (1.8095) to reach 0.5520 (1.8115) a fresh yearly low. Risk sentiment hasn’t favoured the kiwi with investors selling risk products in line with equity drops overnight. Data out in the US has been less than impressive causing spooked markets leading into tomorrow’s Fed meeting. ECB’s Knot was also out cautioning against cutting rates to soon saying it was too early to comment past June.
Current Level: 1.8135
Resistance: 1.8200
Support: 1.7870
Last Weeks Range: 1.7956 – 1.8096