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EUR/NZD capped below 1.71 despite recent Kiwi weakness

FXstreet.com (Barcelona) – The EUR/NZD foreign exchange cross rate is last trading at 1.7097, off recent session highs at 1.7144 printed on the back of massive Kiwi weakness, while Euro remains stable against USD.

EUR/NZD well bid above 1.7000

The EUR/NZD cross managed to find buyers around the double weekly low at 1.6990 seen during NY session hours, stalling the gains once price reached its initial weekly open around the 1.7040 level. Kiwi has been one of the 3 weakest major currencies in last 2 days, along Aussie and Loonie, the other so called commodity currencies.

EUR/NZD key technical levels

Immediate resistance to …read more