The New Zealand Dollar (NZD) hasn’t had much luck in July overall, against the Euro (EUR) it has been hammered from around 0.5670 (1.7570) areas to 0.5540 (1.8060) this morning having started the week at 0.5610 (1.7820). NZ CPI initially sent the NZD lower this morning but has kicked back to 0.5570 (1.7950) surprisingly. Fridays ECB cash rate announcement and statement will see the central bank leave rates unchanged at 4.25% with no further rhetoric surrounding the recent dovish monetary slant expected.
Current Level: 1.7973
Resistance: 1.8100
Support: 1.7420
Last Weeks Range: 1.7588 – 1.7884