Forex Flash: EUR/USD holds bullish scope toward 1.31 - BNZ
FXstreet.com (San Francisco) - As predicted by BNZ, EURUSD has bounced into the 1.3000 price zone after reports that a Euro group deal on Greece is confirmed, and BNZ notes that there is likely scope for a further advance by another 20 pips in the short term[Currency price: 1.2990], "although we'd expect gains to run out of steam into 1.3100 without a US fiscal cliff deal," it says in a research note.
From Mike Jones, Currency Strategist at BNZ: "This afternoon's (3pm) RBNZ inflation expectations will reinforce the near-term inflation headroom the RBNZ currently enjoys."
BNZ adds: "On the day, initial NZDUSD resistance is expected on any bounces towards 0.8255 & Dips towards 0.8145 should continue to attract buyers, ahead of the deeper support level at 0.8080 [Currency price: 0.8220]."
From Mike Jones, Currency Strategist at BNZ: "This afternoon's (3pm) RBNZ inflation expectations will reinforce the near-term inflation headroom the RBNZ currently enjoys."
BNZ adds: "On the day, initial NZDUSD resistance is expected on any bounces towards 0.8255 & Dips towards 0.8145 should continue to attract buyers, ahead of the deeper support level at 0.8080 [Currency price: 0.8220]."
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