The Euro (EUR) fought back Monday to 1.7540 (0.5700) from 1.7390 (0.5750) against the New Zealand Dollar (NZD) in the wake of a 7-week slide. The Euro getting assistance from Marine Le Pen assurances saying she will co-operate with Macron if she wins the French election. On the calendar NZ GDP prints Thursday and is expected to come in at 0.1% in the first quarter of 2024. We would be very surprised if we see a positive result. We expect further downside in the kiwi this week.
Current Level: 0.5713
Support: 0.5650
Resistance: 0.5750
Last week’s range: 0.5659- 0.5751