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15 Aug 2013
NZD/USD takes higher leaps
FXstreet.com (Chicago) - NZD/USD advances 0.55% so far recovering losses from previous fall post US data release.
US consumer price index data matched expectations at 2.0% (YoY) for the month of July. Despite positive job market data at 320K vs. expected 335K, other facts such as a flat industrial production growth vs. expected 0.3% and a decrease in capacity utilization at 77.6% vs. expected 77.9% weakened the dollar against a stronger kiwi.
Technically speaking, the pair trades at 0.8075 between supports at 0.8064 (July 31st highs), 0.8047 (August 8th highs) followed by 0.8035 (June 14th highs) and resistances at 0.8077 (July 25th highs), 0.8090 (July 29th highs) ahead of 0.8111 (July 25th highs). The FXstreet.com trend index reports the pair as slightly bearish on one-hour timeframe analysis despite it trading above the EMA20 along a CCI indicator pointing up.
US consumer price index data matched expectations at 2.0% (YoY) for the month of July. Despite positive job market data at 320K vs. expected 335K, other facts such as a flat industrial production growth vs. expected 0.3% and a decrease in capacity utilization at 77.6% vs. expected 77.9% weakened the dollar against a stronger kiwi.
Technically speaking, the pair trades at 0.8075 between supports at 0.8064 (July 31st highs), 0.8047 (August 8th highs) followed by 0.8035 (June 14th highs) and resistances at 0.8077 (July 25th highs), 0.8090 (July 29th highs) ahead of 0.8111 (July 25th highs). The FXstreet.com trend index reports the pair as slightly bearish on one-hour timeframe analysis despite it trading above the EMA20 along a CCI indicator pointing up.