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10 Sep 2013
EUR/NZD recovers above 1.65 some of last week's loses
FXstreet.com (Barcelona) - The EUR/NZD foreign exchange cross rate is last trading at 1.6536 off recent session highs at 1.6652 less than 15 pips lower below early NY session weekly highs at 1.6567 printed on the back of recent Euro strength.
EUR/NZD expected to range bound
The EUR/NZD cross has managed to stop the bleeding seen past week with 4 falling days out of the 5 trading days losing almost -4% for the week. Lack of key risk events all Tuesday long may lead to a range bound trading the next few hours, with eyes now focus on the delayed US Congress vote on Syria attack to initially take place tomorrow.
EUR/NZD key technical levels
Immediate resistance to the upside for EUR/NZD shows at recent session highs 1.6656, followed by NY session weekly highs at 1.6567, and Sept 05 lows at 1.6588. To the downside, closest support lies at recent session lows 1.6510, followed by NY session lows at 1.6456, and Monday's weekly lows at 1.6417.
EUR/NZD expected to range bound
The EUR/NZD cross has managed to stop the bleeding seen past week with 4 falling days out of the 5 trading days losing almost -4% for the week. Lack of key risk events all Tuesday long may lead to a range bound trading the next few hours, with eyes now focus on the delayed US Congress vote on Syria attack to initially take place tomorrow.
EUR/NZD key technical levels
Immediate resistance to the upside for EUR/NZD shows at recent session highs 1.6656, followed by NY session weekly highs at 1.6567, and Sept 05 lows at 1.6588. To the downside, closest support lies at recent session lows 1.6510, followed by NY session lows at 1.6456, and Monday's weekly lows at 1.6417.