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14 Aug 2013
NZD/USD crashes immediate resistance on relentless upswing
FXstreet.com (Chicago) - NZD/USDhas been pressured up since today’s opening in Asia as the pair tops performers with 0.94% gains so far.
At the sunset of yesterday’s close, New Zealand published retail sales data that exceeded expectations as results reached 1.70% vs. estimates at 1.25% and previous 0.90%. In the US, producer price indexes were rather weak with a PPI (YoY) for July at 2.1% vs. projections at 2.1%.
Technically speaking the pair trades 0.8032 between supports at 0.8021 (July 20th highs), 0.8012 (July 24th highs), 0.8000 (June 18th highs) and above immediate resistance at 0.8030 (July 26th highs) followed by 0.8049 (June 19th highs) and 0.8063 (July 25th lows). Technically speaking, the pair is strongly bullish on one-hour timeframe analysis, navigating above EMA20.
At the sunset of yesterday’s close, New Zealand published retail sales data that exceeded expectations as results reached 1.70% vs. estimates at 1.25% and previous 0.90%. In the US, producer price indexes were rather weak with a PPI (YoY) for July at 2.1% vs. projections at 2.1%.
Technically speaking the pair trades 0.8032 between supports at 0.8021 (July 20th highs), 0.8012 (July 24th highs), 0.8000 (June 18th highs) and above immediate resistance at 0.8030 (July 26th highs) followed by 0.8049 (June 19th highs) and 0.8063 (July 25th lows). Technically speaking, the pair is strongly bullish on one-hour timeframe analysis, navigating above EMA20.