FXstreet.com (Barcelona) - Back in January, Mike Jones, currency strategist at Bank of New Zealand, was pretty confident the NZD/EUR could ‘peak’ around 0.6500-0.6600. Six months later, the cross has broken thru this level, and the question now arises. Can the cross go even higher? According to Mike, expectations of further ECB easing combined with a far brigther NZ economic outlook, makes the case to see NZD/EUR stil well supported. However, as Mr. Jones notes, "our new terms of trade adjusted PPP model suggests the long-run equilibrium of the NZD/EUR is around 0.5800, therefore, a push above 0.7000 may be a bridge too far for the cross."