The EUR has remained fairly static, considering the downside bias of interest rates from the ECB. The cross rate has settled just above 0.5600 against the NZD and looks set to remain steady, as both Central Banks maintain a similarly dovish monetary policy. Look for growth and trade data out of Europe to make incremental changes in the cross rate.
Current Level: 0.5620
Support: 0.5500
Resistance: 0.5800
Last week’s range: 0.5550- 0.5665