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13 Sep 2013
NZD/USD reaches 4.5-month highs
FXstreet.com (Chicago) - NZD/USD reached 0.8172 4.5-month highs but failed to sustain performance and now trades around the 0.8140 zone.
Data recap
Earlier in New Zealand the business NZ PMI was 57.5 vs. past 59.5. The food price index (MoM) was -0.5% matching prior results. In the US, the producer price index was 1.4% vs. past 2.1% and estimates at 0.2%. Retail sales were 0.2% vs. past 0.4% and expectations at 0.4%. The Reuters/Michigan consumer sentiment index was 76.8 vs. past 82.1 and expected 82.0.
NZD/USD Technical Levels
Price action reveals a primary and secondary trends pointing up along the short-term trend following the movement as the pair extends higher lows and bullish channel. The pair was capped at 0.8170 and failed to break through to retrace around the 0.8140 zone. The pair attempts to break through 0.8150 resistance and is offered at 0.8145 the pair oscillates between supports at 0.8136 (June 11th highs), 0.8116 (August 17th highs) ahead of 0.8092 (September 11th lows) and resistances aligned at 0.8161 (August 18th highs), 0.8214 (May 23rd highs), 0.8267 (May 8th highs). According to the FXstreet.com trend index the pair is slightly bullish on one-hour timeframe analysis and remains above the EMA20.
Data recap
Earlier in New Zealand the business NZ PMI was 57.5 vs. past 59.5. The food price index (MoM) was -0.5% matching prior results. In the US, the producer price index was 1.4% vs. past 2.1% and estimates at 0.2%. Retail sales were 0.2% vs. past 0.4% and expectations at 0.4%. The Reuters/Michigan consumer sentiment index was 76.8 vs. past 82.1 and expected 82.0.
NZD/USD Technical Levels
Price action reveals a primary and secondary trends pointing up along the short-term trend following the movement as the pair extends higher lows and bullish channel. The pair was capped at 0.8170 and failed to break through to retrace around the 0.8140 zone. The pair attempts to break through 0.8150 resistance and is offered at 0.8145 the pair oscillates between supports at 0.8136 (June 11th highs), 0.8116 (August 17th highs) ahead of 0.8092 (September 11th lows) and resistances aligned at 0.8161 (August 18th highs), 0.8214 (May 23rd highs), 0.8267 (May 8th highs). According to the FXstreet.com trend index the pair is slightly bullish on one-hour timeframe analysis and remains above the EMA20.