3 Sep 2013
EUR/NZD stalls the fall above 1.68
FXstreet.com (Barcelona) - The EUR/NZD foreign exchange cross rate is last trading at fresh session highs 1.6896, off recent double fresh 2-week lows at 1.6823 printed both at late NY holiday session and early Hong-Kong trade, on the back of Kiwi weakness following lower than expected Australian retail sales and current account deficit.
EUR/NZD finds some ground on Kiwi weakness
Despite Euro being barely around session lows against the USD still below the 1.32 handle, recent weakness in Kiwi no matter better NZ ANZ commodity prices than expected, has lead to the EUR/JPY cross to bounce pull backing previous 1.69 handle broken to the downside. EUR/JPY is down -1.2% so far for the week.
EUR/NZD key technical levels
Immediate resistance to the upside for EUR/NZD shows at recent session highs 1.6905, followed by NY session highs at 1.6930, and Friday's/Thursday's lows at 1.6964. To the downside, closest support lies at yesterday's lows 1.6863, followed by mentioned recent session 2-week lows at 1.6823, and August 09 highs at 1.6760.
EUR/NZD finds some ground on Kiwi weakness
Despite Euro being barely around session lows against the USD still below the 1.32 handle, recent weakness in Kiwi no matter better NZ ANZ commodity prices than expected, has lead to the EUR/JPY cross to bounce pull backing previous 1.69 handle broken to the downside. EUR/JPY is down -1.2% so far for the week.
EUR/NZD key technical levels
Immediate resistance to the upside for EUR/NZD shows at recent session highs 1.6905, followed by NY session highs at 1.6930, and Friday's/Thursday's lows at 1.6964. To the downside, closest support lies at yesterday's lows 1.6863, followed by mentioned recent session 2-week lows at 1.6823, and August 09 highs at 1.6760.