EUR/NZD trades sideways

Note: This section contains information in English only.
Source: Dukascopy Bank SA


The EUR/NZD currency exchange rate has been trading sideways since the start of December. Namely, the pair fluctuates between the support zone at 1.6515/1.6560 and resistance at 1.6775/1.6840.

A surge above the resistance zone might eventually reach the resistance of the August high level at 1.7170. However, the 1.7000 mark could stop a potential surge.

On the other hand, a decline below the 1.6515/1.6560 zone would look for support in the 1.6500 mark and the 50-day simple moving average. Further below, round exchange rate levels might stop a decline, before the rate reaches the 1.6070/1.6120 mark.
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