EURUSD rising to its strongest level since 2015 and possibly challenge the psychological level at 1.20 anytime soon towards NFP. In fact, EURGBP also marked record high at 0.9270. In the contrary, kiwi dollar was the worst performing currency last week due to lower growth progression and uneasiness by RBNZ. Thus we expect EUR and GBP will extend gains against NZD with target of 1.6550 for EURNZD and 1.7870 for GBPNZD.
EURAUD seems interesting as well and we believe the pair should test resistance at 1.5120 and our long term target is 1.5300 and even 1.5500 in time to come.
Last week our analysis on shorting USDCAD achieved the target at 1.2510. With the threat from Tropical storm Harvey we expect CADJPY to shoot up towards our target level of 88.20.
This week key economic events:
