According to Jason Wong, Senior Markets Strategist at BNZ, the NZD/EUR pair is facing resistance ahead to make further progress after a strong run in the cross since October. Key Quotes: “The cross is trading below its average since 2012, following the steep fall through 2017. Has settled in a 0.56-0.61 range since late-2017. 0.56 is a strong support level, having spent very little time below that level since 2011. 0.61-0.6120 represents a key resistance level.” “Reflecting safe-haven characteristics for the euro, NZD/EUR generally weakens in a falling risk appetite environment. Risk appetite has improved this year, stretching back up to an above-average level. A sustained period of risk aversion would be a headwind for the cross.” “Sentiment for EUR has been subdued, not helped by the recent run of poor data, and it wouldn’t take much to see some improvement.” “Our bias is for NZD/EUR to head lower, targeting about 0.57 through the next year. Reduced Brexit risk (spillover from GBP) would support this view.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next UK: Lawmakers reject amendment H that calls for a second referendum FX Street 4 years According to Jason Wong, Senior Markets Strategist at BNZ, the NZD/EUR pair is facing resistance ahead to make further progress after a strong run in the cross since October. Key Quotes: "The cross is trading below its average since 2012, following the steep fall through 2017. Has settled in a 0.56-0.61 range since late-2017. 0.56 is a strong support level, having spent very little time below that level since 2011. 0.61-0.6120 represents a key resistance level." "Reflecting safe-haven characteristics for the euro, NZD/EUR generally weakens in a falling risk appetite environment. Risk appetite has improved this year, stretching back… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
