Fundamentally next week the most interesting news is published in Eurozone. On Tuesday CPI is published. The forecast is +1,4%. Retail sales are published on Wednesday. Consumption in eurozone is around zero level and economists are expecting that it will be negative.
On Thursday the European is taking the decision about the interest rate. With high probability the interest rate will remain stable – 0%.
EUR/NZD is rising and the is heading up. The pair is trying to break 50% level 1,71103. Next is 1,73034 (61,8% Fibo correction). Right now, we see two possible options:
1. EUR will reach the .
2. We are going to see the correction but only if the pair breaks the down. In this case the support is 1,69172.
Indicators: is in overbought zone. lines are moving up, confirming the . The same way is moving.
Summary: if you are still holding long positions in euro – it is better to think of closing them next to 1,73034.