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14 Aug 2015
NZD/USD drops after retail sales Q2 miss
FXStreet (Guatemala) - NZD/USD is currently trading at 0.6559 with a high of 0.6578 and a low of 0.6549.
NZD/USD is offered in early Asia on the back of retails sales, excluding inflation, missing expectations for Q2 arriving at +0.1% vs +0.5% consensus. 0.6949 was the low on the dip from 0.6570 on the release of the data while the price remains sub US afternoon session trading levels. News overnight came with US retails sales beating expectations and this added to the downside from when the S&P recently put Fonterra rating on credit watch negative who are citing a weakening dairy market.
NZD/USD levels
0.6640 remains key resistance ahead of 0.6720/38 coming as first major resistance thereafter. 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. To the downside, 0.6520 supports ahead of 0.6480.
NZD/USD is offered in early Asia on the back of retails sales, excluding inflation, missing expectations for Q2 arriving at +0.1% vs +0.5% consensus. 0.6949 was the low on the dip from 0.6570 on the release of the data while the price remains sub US afternoon session trading levels. News overnight came with US retails sales beating expectations and this added to the downside from when the S&P recently put Fonterra rating on credit watch negative who are citing a weakening dairy market.
NZD/USD levels
0.6640 remains key resistance ahead of 0.6720/38 coming as first major resistance thereafter. 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. To the downside, 0.6520 supports ahead of 0.6480.