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EUR/NZD is approaching a technical resistance zone!
Will the pair extend its downtrend this week? Or will the RBNZ’s policy decision inspire an upside breakout for the Kiwi’s counterpart?
While we didn’t see market-moving catalysts yesterday, commodity-related currencies like NZD took steps back against their counterparts ahead of this week’s anticipated data releases.
EUR/NZD, despite bank holidays in Europe, edged up from its 1.7700 lows to trade closer to the 1.7800 psychological level.
How high can EUR/NZD fly before the bears extend a downtrend that’s been around all month?
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