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NZD/USD stalling ahead of the 0.8200

FXstreet.com (Barcelona) - NZD/USD is currently dealing with 0.8178 asks, off recent session and weekly highs at 0.8192, around past Tuesday's/Wednesday's lows, working now as resistance. Better than expected NZ Visitor arrivals data just released and broad USD weakness has prompted the pair to mentioned fresh highs, though has far been unable to hold into these gains.

The pair is up +1.43% for the week so far, after finding support at the 50% Fibo retrace of daily up leg from past June's lows 0.7450/0.8680 at around the 0.8060 level. According to IFR Markets, part of the bounce is due on the back of a major short squeeze, with market focus now turning into RBA meeting minutes at 01:30 GMT, followed by NZ Inflation expectations, House prices, and Credit card spending at 03:00 GMT.

Immediate resistance to the upside for NZD/USD shows at recent mentioned fresh weekly highs 0.8193, followed by Thursday's NY session highs at 0.8207, while closest support lies at Thursday's lows 0.8140, followed by Friday's London session highs at 0.8120.

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