FX News

NZD/EUR Transfer:

The New Zealand Dollar (NZD) has made small gains Monday against the Euro (EUR) extending from last week’s 0.5705 (1.7530) reaching 0.5820 (1.7190) early Tuesday. The recent sell off in German Bonds and broad-based kiwi strength suggests we may see further upside on the horizon. The RBNZ cash rate and policy statement is tomorrow which could continue to price in further rises. The central bank is predicted to raise interest rates 25 points, possibly 50 to 5.75%. Certainly, advancing past the 100-day moving average at 0.5810 (1.7220) on the chart will get technical traders excited for more topside action.

Current Level: 0.5822 (1.7176)
Resistance: 0.5855 (1.7540)
Support: 0.5700 (1.7080)
Last Weeks Range: 0.5710-0.5825 (1.7171-1.7520)

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