FX News

NZD/EURO Transfer

The New Zealand Dollar (NZD) reversed off the triple bottom at 0.5480 (1.8250) last week to climb back to 0.5585 (1.7900) levels at the weekly close against the Euro (EUR). An outflow of US Dollar flows supporting the kiwi in the aftermath of last week’s US NFP data. The Fibonacci 50% retracement 0.5600 (1.7875) from the recent high at 0.5715 (1.7500) and the low at 0.5480 (1.8250) looks to be favouring a technical move lower.

Current Level: 0.5559
Support: 0.5480
Resistance: 0.5600
Last week’s range: 0.5479 – 0.5593

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