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27 Aug 2013
EUR/NZD capped below 1.71 despite recent Kiwi weakness
FXstreet.com (Barcelona) - The EUR/NZD foreign exchange cross rate is last trading at 1.7097, off recent session highs at 1.7144 printed on the back of massive Kiwi weakness, while Euro remains stable against USD.
EUR/NZD well bid above 1.7000
The EUR/NZD cross managed to find buyers around the double weekly low at 1.6990 seen during NY session hours, stalling the gains once price reached its initial weekly open around the 1.7040 level. Kiwi has been one of the 3 weakest major currencies in last 2 days, along Aussie and Loonie, the other so called commodity currencies.
EUR/NZD key technical levels
Immediate resistance to the upside for EUR/NZD shows at recent session highs at 1.7144, followed by August 05 highs 1.7158, and double Monday's/Friday's high at 1.7210. To the downside, closest support lies at Thursday's highs 1.7080, followed by Friday's/NY session weekly lows at 1.7008/1.6988, and August 21 Asian session highs at 1.6970.
EUR/NZD well bid above 1.7000
The EUR/NZD cross managed to find buyers around the double weekly low at 1.6990 seen during NY session hours, stalling the gains once price reached its initial weekly open around the 1.7040 level. Kiwi has been one of the 3 weakest major currencies in last 2 days, along Aussie and Loonie, the other so called commodity currencies.
EUR/NZD key technical levels
Immediate resistance to the upside for EUR/NZD shows at recent session highs at 1.7144, followed by August 05 highs 1.7158, and double Monday's/Friday's high at 1.7210. To the downside, closest support lies at Thursday's highs 1.7080, followed by Friday's/NY session weekly lows at 1.7008/1.6988, and August 21 Asian session highs at 1.6970.