EUR/NZD on previous daily high and strong resistance
As idle cash looks to find a strong and secure yield, it is no wonder that the New Zealand Dollar has benefited from the current Euro-Zone crisis. Pairs such as the Australian Dollar and New Zealand Dollar are often viewed as a proxy for Chinese growth and thus have performed well against the Euro in recent years. Although Chinese growth may become a cause for concern as the nation shifts away from export led growth, weakness in the Euro-Zone may cap any significant reversal.
EUR/NZD makes a double top on strong resistance and If it breaks it we can expect the trend reversal.
I expect that resistance will hold and pair will go back to previous daily low at 1.68760.
EUR/NZD makes a double top on strong resistance and If it breaks it we can expect the trend reversal.
I expect that resistance will hold and pair will go back to previous daily low at 1.68760.
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