FX News

NZD/EUR Transfer:

Losses for the New Zealand Dollar (NZD) continued into Monday against the Euro (EUR) to 0.5675 (1.7620) with their kiwi underperforming of late in the aftermath of a dovish RBNZ. The Euro has also been in the same boat with ECB’s Villeroy suggesting inflation had peaked and interest rates are close to topping out. On the docket this week is German and French manufacturing with poor results for May predicted. This could undermine recent Euro strength.

Current Level: 0.5675 (1.7621)
Resistance: 0.5820 (1.7760)
Support: 0.5630 (1.7180)
Last Weeks Range: 0.5669-0.5749 (1.7392-1.7638)

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