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10 Sep 2013
NZD/USD capped at 0.8049 3-week peaks
FXstreet.com (Chicago) - NZD/USD soared on electronic card retail sales data to extend bullish momentum and consolidate upward trendline. The pair has advanced 0.31% so far and remains pushed higher despite small retracement.
Price action reveals heavy buying on released NZ data with outperforming electronic card retail sales at 0.8% vs. prior 0.4% (MoM). Ahead of Chinese data that may boost the commodities currencies, the pair trades at 0.8042 and navigates between supports at 0.8016 (September 6th highs), 0.7989 (September 7th highs) ahead of 0.7960 (September 7th lows) and resistances at 0.8052 (August 15th lows), 0.8072 (August 16th lows) followed by 0.8092 (August 19th lows). According to the FXstreet.com trend index, the pair is slightly bullish on one-hour timeframe analysis and remains trading above the EMA20.
Price action reveals heavy buying on released NZ data with outperforming electronic card retail sales at 0.8% vs. prior 0.4% (MoM). Ahead of Chinese data that may boost the commodities currencies, the pair trades at 0.8042 and navigates between supports at 0.8016 (September 6th highs), 0.7989 (September 7th highs) ahead of 0.7960 (September 7th lows) and resistances at 0.8052 (August 15th lows), 0.8072 (August 16th lows) followed by 0.8092 (August 19th lows). According to the FXstreet.com trend index, the pair is slightly bullish on one-hour timeframe analysis and remains trading above the EMA20.