FX News

NZD/EUR Transfer:

Eurozone Manufacturing data was mixed, and German economic sentiment came in above forecast, meanwhile the RBNZ raised rates 50 points in a dovish read. This has set the tone of late- the New Zealand Dollar (NZD) retreating lower to 0.5820 (1.7180), the yearly open was circa 0.5960 (1.6780) highlighting Euro momentum in 2023. The Fibonacci chart pattern suggests we could see a reversal back towards support at 1.7060 (0.5860), the 61.8% fib level based on recent higher lows followed by lower lows.

Current Level: 0.5814 (1.7199)
Resistance: 0.5855 (1.7500)
Support: 0.5715 (1.7080)
Last Weeks Range: 0.5823-0.5890 (1.6980-1.7173)

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