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26 Aug 2013
EUR/NZD back above 1.70, off fresh 20-month highs
FXstreet.com (Barcelona) - The EUR/NZD foreign exchange cross rate is last trading near session lows at 1.7125, off recent session highs at 1.7213 printed at the same level of those from Friday, highest since Dec 2011.
EUR/NZD pares all previous 2-week loses
Despite worst NZ trade deficit in 2013 earlier released, Kiwi is pretty resilient to weakening further, while Euro is steady against USD, with London closed later on over holidays. The cross had last week best weekly performance since Sept 2011 adding more than 4% in gains, paring all previous 2-week loses, on combined Euro strength and Kiwi weakness.
EUR/NZD key technical levels
Immediate resistance to the upside for EUR/NZD shows at August 05 highs 1.7158, followed by mentioned double session/Friday's high at 1.7210, and Dec 19 2011 highs at 1.7227. To the downside, closest support lies at recent session lows 1.7111, followed by Thursday's highs at 1.7084, and Friday's lows at 1.7006.
EUR/NZD pares all previous 2-week loses
Despite worst NZ trade deficit in 2013 earlier released, Kiwi is pretty resilient to weakening further, while Euro is steady against USD, with London closed later on over holidays. The cross had last week best weekly performance since Sept 2011 adding more than 4% in gains, paring all previous 2-week loses, on combined Euro strength and Kiwi weakness.
EUR/NZD key technical levels
Immediate resistance to the upside for EUR/NZD shows at August 05 highs 1.7158, followed by mentioned double session/Friday's high at 1.7210, and Dec 19 2011 highs at 1.7227. To the downside, closest support lies at recent session lows 1.7111, followed by Thursday's highs at 1.7084, and Friday's lows at 1.7006.