FXstreet.com (Barcelona) - EUR/NZD is surging as these lines are written last at 1.5594 near 3-day highs, following worst jobless data in New Zealand in last 13 years, according to sources, bouncing from previous 3-month lows printed in London hours, at 1.5390. The cross is up by +0.71% since previous Asia-Pacific open yesterday.
Market was expecting an increase in the Kiwi labor force by +0.3% when it came out a decrease of -0.4% and a jump in unemployment from 6.7% to 7.3% in 3Q alone. NZD/USD went from a previous daily/1-month high at 0.8310 to recent 2-week lows at 0.8177. Later on ECB meeting will center the attention as some dovish stance is expected from European Central Bank officials in the latter press conference.
Immediate resistance to the upside for EUR/NZD shows at recent weekly high/Nov 01 low 1.5621, followed by Nov 02 high/38% Fibo retrace of latest down leg 1.6058/1.5395 at 1.5650/60, and Oct 26/29 lows at 1.5695. To the downside, closest support lies at yesterday's Asian session highs 1.5552, followed by Tuesday's low at 1.5434, and yesterday's 3-month low at 1.5390.
Market was expecting an increase in the Kiwi labor force by +0.3% when it came out a decrease of -0.4% and a jump in unemployment from 6.7% to 7.3% in 3Q alone. NZD/USD went from a previous daily/1-month high at 0.8310 to recent 2-week lows at 0.8177. Later on ECB meeting will center the attention as some dovish stance is expected from European Central Bank officials in the latter press conference.
Immediate resistance to the upside for EUR/NZD shows at recent weekly high/Nov 01 low 1.5621, followed by Nov 02 high/38% Fibo retrace of latest down leg 1.6058/1.5395 at 1.5650/60, and Oct 26/29 lows at 1.5695. To the downside, closest support lies at yesterday's Asian session highs 1.5552, followed by Tuesday's low at 1.5434, and yesterday's 3-month low at 1.5390.
