FX News


The Euro (EUR) remained heavy leading into the weekly close against the New Zealand Dollar (NZD) with a terrible IFO (German business climate) read. The most prominent German indicator, its lowest since January 2021. Trading around the 0.6375 (1.5690) area Monday the pair clocking a July 2017 high. The war in Ukraine still keeps a solid grip over the Euro, eurozone inflation remains a problem as well with  forecasters pricing in further rises yet. Locally we have business confidence Wednesday. A retest of the October 2016 high at 0.6700 (1.4500) levels looks possible.

Current Level: 0.6279 (1.5926)
Resistance: 0.6370 (1.6100)
Support: 0.6210 (1.5700)
Last Weeks Range: 0.6228-0.6348 (1.5751-1.6054)

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