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2 Aug 2013
EUR/NZD ending retreat at dawn of new opening
FXstreet.com (Chicago) - EUR/NZD bounced off support at 1.6712 before the start of Friday’s trading journey.
On aftermath of ECB’s resolution to retain 0.5% interest rates for bank lending, the euro gained strength against the New Zealand dollar as support at 1.6712 pushed up pair. Trading at 1.6724, following supports were identified at 1.6692 (July 24 highs), 1.6685 (July 15 lows) and resistances were set at 1.6735 (July 14 lows), 1.6749 (June 26 highs), 1.6763 (June 19 highs).
Technically speaking, FXstreet.com technical studies reported pair as strongly bearish on one-hour timeframe analysis as losses marked 0.08% and MACD pointed down.
Market participants await Euro-zone Producer Price indexes for June as Eurostat is to close European Union official data releases for the week.
On aftermath of ECB’s resolution to retain 0.5% interest rates for bank lending, the euro gained strength against the New Zealand dollar as support at 1.6712 pushed up pair. Trading at 1.6724, following supports were identified at 1.6692 (July 24 highs), 1.6685 (July 15 lows) and resistances were set at 1.6735 (July 14 lows), 1.6749 (June 26 highs), 1.6763 (June 19 highs).
Technically speaking, FXstreet.com technical studies reported pair as strongly bearish on one-hour timeframe analysis as losses marked 0.08% and MACD pointed down.
Market participants await Euro-zone Producer Price indexes for June as Eurostat is to close European Union official data releases for the week.