FX News

NZD/EUR (EUR/NZD) Conversion:

Prices in the Euro (EUR), New Zealand Dollar (NZD) reversed off the open at 0.6045 (1.6540) bouncing back towards 0.6000 (1.6660) in early Tuesday trading. It’s very much a risk off tone drifting through markets this week with equities continuing their run lower– the Nasdaq 4.20% down on the day. French voting yesterday in the first round of parliamentary elections will determine if President Macron leads for a second term, he faces an upsurge effort from the opposition spearheaded by Melenchon. NZ GDP q/q prints Thursday the key data this week on the calendar with 0.6% growth predicted for the second quarter 2022 down from 3.0% in the first. The kiwi could struggle this week to gather any pace.

Current Level: 0.6020 (1.6611)
Resistance: 0.6110 (1.6840)
Support: 0.5940 (1.6370)
Last Weeks Range: 0.5976-0.6098 (1.6398-1.6733)

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