NZD/EURO Transfer
The ECB cut rate a further 25 basis points overnight, citing the conquest of inflation and the need for stimulus over fears of a global tariff war. The US Dollar has been in rapid decline this past week, but the NZD/EUR cross rate has traded between 0.5300 (1.8865) and 0.5390 (1.8550). The German’s have decided to abandon the debt brake’ citing the need for massive deficit spending to break the deep and extended recession.
Current Level: 0.5315
Support: 0.5265
Resistance: 0.5400
Last week’s range: 0.5292- 0.5390
