The New Zealand Dollar (NZD) continues to fall against the Euro (EUR) pushing past long-term support Monday at 0.5520 (1.8120) the kiwi has clocked 0.5500 (1.8215) this morning a fresh 2024 low. The European Union (ECB) left their key interest rate unchanged at 4.25% last week in a dovish decision however the hot German producer prices have helped boost the EUR. We could see further declines in the NZD to chart support at 0.5450 (1.8350) the 2020 covid low.
Current Level: 0.5486
Support: 0.5540
Resistance: 0.5450
Last week’s range: 0.5222- 0.5616