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NZD/USD retreats from 2-week highs

FXStreet (Córdoba) - NZD/USD is hovering around 0.7870, flat for the day so far after being able to erase losses, but is still showing some short term weakness ahead of retail sales data from the US.

Yesterday the pair climbed to 0.7927 reaching a 2-week high but started to retreated and failed to hold above 0.7900. During the Asian session continued to move to the downside, and fell to test Thursday lows at 0.7835/40 but managed to hold.

NZD/USD technical levels

To the downside, the key level lies around 0.7835/40 (Nov 13, 15 low - Nov 5 high), a break lower would remove momentum to the kiwi; below the next support levels might lie at 0.7825 and 0.7775.

On the opposite direction, immediate resistance might lie at 0.7885 (intraday) and above here at 0.7900 and 0.7925/30 (Nov 13 high).

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