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22 Oct 2013
EUR/NZD muted amidst a very quiet Asian session
FXstreet.com (Athens) – The EUR/NZD is trading at a very tight range in the Asian European trading session as the New Zealand calendar is empty, leaving cross dangling till the kick off of the European bourses.
The EUR/NZD has been trading in a very tight range since the kick off of the Asian trading session, hovering amidst a tight level as of approximately 20 pips. The cross might be in a consolidation mode after its sharp yesterday’s gains of roughly 100 pips. There is an anticipation that the single currency might find solid boost from the fundamental perspective ahead of this week European trading data, as on Wednesday Euro land Consumer confidence is released at much better than expected levels (not seen since August as of 2011), while on Thursday both the Euro land PMI as long as Germany’s PMI are expected to climb further upwards sustaining the prospect of a recovery in Euro zone.
Technical Perspectives
At the time of writing, the cross is trading at 1.6180, down 0.02%. The FXstreet.com Trend Index shows the pair to be slightly bullish at the 15-minutes timeframe chart. Daily pivot point support can be found at S3: 1.6133 S2: 1.6093 S1: 1.6052, and resistance R1:1.6251 R2:1.6292 R3:1.6332, respectively.
The EUR/NZD has been trading in a very tight range since the kick off of the Asian trading session, hovering amidst a tight level as of approximately 20 pips. The cross might be in a consolidation mode after its sharp yesterday’s gains of roughly 100 pips. There is an anticipation that the single currency might find solid boost from the fundamental perspective ahead of this week European trading data, as on Wednesday Euro land Consumer confidence is released at much better than expected levels (not seen since August as of 2011), while on Thursday both the Euro land PMI as long as Germany’s PMI are expected to climb further upwards sustaining the prospect of a recovery in Euro zone.
Technical Perspectives
At the time of writing, the cross is trading at 1.6180, down 0.02%. The FXstreet.com Trend Index shows the pair to be slightly bullish at the 15-minutes timeframe chart. Daily pivot point support can be found at S3: 1.6133 S2: 1.6093 S1: 1.6052, and resistance R1:1.6251 R2:1.6292 R3:1.6332, respectively.