LimitMarkets

EURNZD aims for 1.7500 high

Long
FX:EURNZD   Euro / New Zealand Dollar
Euro advanced despite the disappointing ZEW institute report. Economic Sentiment came at -43.6 reading indicating a strong pessimistic economic outlook. Political uncertainties over Brexit and political turmoil in Italy drive investors into safe-haven assets. On the other side, kiwi is waiting for the key Chinese data and the developments in Hong Kong. Euro keeps its rally against the kiwi. RSI is running in an overbought area with price breaking above the channel aiming for new highs around 1.7500.

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