by Fri, 13 Aug 2010 01:25:00 +0200
Forex: NZD/USD jumps 45 pips on strong retails
FXstreet.com (Barcelona) - The New Zealand dollar most recently burst to the upside after retails sales over the month of June came in better than analysts’ were expecting. While settling around 0.7090 after closing bell over New York, the NZD/USD currently trades upward of 0.7135 as it begins to hit firm resistance to rise any further.
On the move, the NZD/USD has erased any losses accrued over Thursday’s session and also halts a 4-day decline which began on Monday. If positive momentum carries on, further resistance is listed at 0.7160 (daily high), while support is placed at 0.7113 and 0.7095.
| Technical Analysis (2010-08-12 23:15 GMT) | |
|---|---|
NZD/USD 0.713/0.714 - O: 0.7334 H: 0.7334 L: 0.7327 C: 0.7329 | |
| Trend | R3: 0.7130 |
 | R2: 0.7112 |
| R1: 0.7094 | |
| S1: 0.7052 | |
| S2: 0.7070 | |
| S3: 0.7088 | |
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