EURNZD post 09.22.08

A huge rally in the EUR/USD of over 300 pips did not spill over to other Euro based crosses like the EUR/NZD which posted over a 400 pip move in Monday trading.  EUR/NZD has not suffered the massive correction that its siblings, EURJPY and EUR/USD. Rather it has been in a strong up trend since the beginning of March 2008. Look for this pair to challenge the 2.2000 area in the coming days.