9 Dec 2014
EUR/NZD hover around 1.6100 levels
FXStreet (Mumbai) - The Euro edged higher against the New Zealand dollar after positive German trade data provided support to the common currency.
At time of writing, the Euro trades marginally higher by 0.09% at 1.6105 levels against its New Zealand counterpart. Kiwi remains under pressure ahead of Wednesday’s Fonterra milk-price forecasts and RBNZ Monetary Policy decision on Thursday.
EUR/NZD Levels to consider
The pair has an immediate resistance at 1.6111 (Oct 28 High) levels, above which gains could be extended to 1.6128 (Oct 31 High) levels. On the flip side, support is seen at 1.6040 (50-day SMA), below which it could extend losses to 1.5968 (100-day SMA) levels.
At time of writing, the Euro trades marginally higher by 0.09% at 1.6105 levels against its New Zealand counterpart. Kiwi remains under pressure ahead of Wednesday’s Fonterra milk-price forecasts and RBNZ Monetary Policy decision on Thursday.
EUR/NZD Levels to consider
The pair has an immediate resistance at 1.6111 (Oct 28 High) levels, above which gains could be extended to 1.6128 (Oct 31 High) levels. On the flip side, support is seen at 1.6040 (50-day SMA), below which it could extend losses to 1.5968 (100-day SMA) levels.