OctaFX | OctaFX Forex Broker
Open trading account

NZD/USD bulls enjoy some upside towards the 0.85 handle

FXStreet (Barcelona) - NZD/USD is trading at 0.8482, up 0.29% on the day, having posted a daily high at 0.8490 and low at 0.8455.

NZD/USD was able to make a break for it to the topside and has been challenging the bears commitment just below the 0.85 handle. Spot is in neutral territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bullish. RSI is in neutral territory at 72.48, up from its last hourly close at 58.56, Looking to a daily chart, we see that RSI is neutral at 27.48. Data form the calendar has been the catalyst for the move and we got the news that the manufacturing sector continues to impress with following a 53.00 reading for July vs 53.3 last month. Then we had New Zealand retail sales that were very positive with ex autos (core) (QoQ) (Q2) at +1.2% vs +0.8% last, with retail sales (QoQ) (Q2) at +1% vs +0.7% last.

NZD/USD levels

Spot is presently trading at 0.8483, and next resistance can be seen at 0.8492 (Daily Classic R2), 0.8521 (Daily Classic R3), 0.8522 (Weekly Classic R1) and 0.8543 (Daily 20 SMA). Support below can be found at 0.8473 (Weekly Classic PP), 0.8469 (Hourly 200 SMA) and 0.8464 (Daily Classic R1).

NZ retail sales surprise to the upside

New Zealand retail sales ex autos (core) (QoQ) (Q2) came at +1.2% vs +0.8% last, with retail sales (QoQ) (Q2) at +1% vs +0.7% last.
Read more Previous

Markets targeting a February 2015 for first BoE hike - RBS

Ross Walker, Senior UK Economist at RBS, shares his view on the BoE Inflation Report, noting that markets are now targeting a February 2015 for first hike.
Read more Next
Start livechat