13 Aug 2015
NZD/USD: bears monitoring data and Chinese Yuan
FXStreet (Guatemala) - NZD/USD is currently trading at 0.6571 with a high of 0.6642 and a low of 0.6550.
NZD/USD is supported and staging a very minor bid up to test the downside from 0.6640 resistance where 0.6570/80 is first hurdle to break. The solid retail sales is what the dollar bulls needed given the implications of the PBoC and how this could compromise a rate hike from the Fed as early as September. We now await the FOMC minutes and CPI's for the US economy to really get a driver for one way or another.
NZD/USD better bid below key resistances
0.6640 ahead of 0.6780 remains as key up-side targets with 0.6720/38 coming as first major resistance while the 28th of July shooting star highs remain a technical barrier. A score to 0.7080 will close the bearish gap of early June trade.
NZD/USD is supported and staging a very minor bid up to test the downside from 0.6640 resistance where 0.6570/80 is first hurdle to break. The solid retail sales is what the dollar bulls needed given the implications of the PBoC and how this could compromise a rate hike from the Fed as early as September. We now await the FOMC minutes and CPI's for the US economy to really get a driver for one way or another.
NZD/USD better bid below key resistances
0.6640 ahead of 0.6780 remains as key up-side targets with 0.6720/38 coming as first major resistance while the 28th of July shooting star highs remain a technical barrier. A score to 0.7080 will close the bearish gap of early June trade.