In March, the European Central Bank (ECB) expanded its stimulus program with fresh loans for banks, additional asset purchases and cuts to interest rates. After the ECB’s recent confirmation that interest rates in Europe could sink even further into negative territory over the next few months, the Euro’s strength against New Zealand dollar has been weakening. On the daily chart, the pair is entering a downtrend with the RSI at 39.76, getting closer to the oversold zone.
Buy Limit at 1.62853, Stop loss at 1.62205, Take profit at 1.63974.
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