The Euro (EUR) rallied Friday coming off 0.5695 (1.7560) area to reach 0.5650 (1.7700) against the New Zealand Dollar (NZD). The kiwi contending with an intense session Friday after US job numbers boosted the US Dollar as investors sold “risk”. However, the Euro gave it all back Monday reacting to the weekend European Parliamentary election result. The NZD/EUR is inching closer to the yearly open price at 0.5730 (1.7450), we expect the NZD bull run to continue over June.
Current Level: 1.7574
Resistance: 1.7790
Support: 1.7450
Last Weeks Range: 1.7524 – 1.7698