The bull run from 0.5550 (1.8015) mid-September levels continued into Monday in the Euro (EUR), New Zealand Dollar (NZD) pair, the EUR under pressure for the third week straight with price clocking 0.5720 (1.7485) this morning. French’s debt rose to 112% of GDP in the second quarter the govt extremely concerned about the mounting debt. Add in poor Germin prelim CPI and falling Spanish CPI y/y and its not hard to see why the EUR has been underperforming.
Current Level: 0.5692
Support: 0.5525
Resistance: 0.5750
Last week’s range: 0.5583- 0.5695