Recently published economic data of Eurozone is showing strength and growth in euro zone economy. GDP growth is above expectation so I expect ECB may not extend Quantitative easing beyond 2017. And so EUR/NZD may rise to new levels.
TECHNICAL ANALYSIS: EUR/NZD is in uptrend on weekly and monthly chart.
TOOLS USED: BOLLINGER BAND, ADX, COMMODITY CHANNEL INDEX CCI, MACD, FIBONACCI RETRACEMENT.
CHARTS: WEEKLY AND MONTHLY
WEEKLY CHART:
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