It’s been all one-way traffic this week in the cross with the New Zealand Dollar (NZD) extending last week’s gains to 0.5675 (1.7620) this morning. Most importantly in the move the kiwi has pushed past heavy resistance at 0.5660 (1.7670) and now looks to breach the long-term level at 0.5750 (1.7400) the 2024 high. The Euro struggling after a “misfire” in the latest Manufacturing numbers, the worst since July 2023.
Current Level: 2.1150
Resistance: 2.1350
Support: 2.1000
Last Weeks Range: 2.1162- 2.1370