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15 Jul 2013
NZD/USD jumps 40 pips
FXstreet.com (London) - NZD/USD has jumped 40 pips after the release of US Retail Sales.
US Retail sales printed 0.4% vrs a consensus of 0.8% and slightly lower than previous of 0.5%. NZD/USD had been trading sub 0.7740 and is meeting daily resistance at 0.7780. The pair await CPI from New Zealand with the RBNZ looming a high reading will put pressure on them to raise rates.
NZD/USD trading blow descending trend line
NZD/USD is trading below the main descending trend line formed Apr / May highs. The pair continues to consolidate in the bearish trend. Danske Bank’s Technical Update offers a slightly bullish near term bias. Support comes from their report at 0.7770, 0.7753, 0.7715 and next resistance through the figure at 0.7828, 0.7879 and 0.7908.
US Retail sales printed 0.4% vrs a consensus of 0.8% and slightly lower than previous of 0.5%. NZD/USD had been trading sub 0.7740 and is meeting daily resistance at 0.7780. The pair await CPI from New Zealand with the RBNZ looming a high reading will put pressure on them to raise rates.
NZD/USD trading blow descending trend line
NZD/USD is trading below the main descending trend line formed Apr / May highs. The pair continues to consolidate in the bearish trend. Danske Bank’s Technical Update offers a slightly bullish near term bias. Support comes from their report at 0.7770, 0.7753, 0.7715 and next resistance through the figure at 0.7828, 0.7879 and 0.7908.