Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: NZD/USD slumps but holds above 0.72 handle as retail sales miss weighs on the kiwi

  • NZ retail sales, a key component of the GDP came in at 0.8% q/q, missing 1.1% expected. The prior was also revised lower to +0.8% from +0.9%. 
     
  • New Zealand Business NZ PMI dipped from previous 54.5 to 51.6 in February.
     
  • NZD/USD slumped to test 0.72 handle, but has recovered to currently trade at 0.7217.
     
  • Break below 5-DMA could see weakness upto next major support at 0.7132 (100-DMA)
     

Support levels - 0.72 (5-DMA), 0.7179 (38.2% Fib retrace of 0.6862 to 0.7375 rise), 0.7132 (100-DMA)

Resistance levels - 0.7251 (20-DMA), 0.7254 (23.6% Fib retrace of 0.6862 to 0.7375 rise), 0.7265 (Feb 9th high)

TIME  TREND INDEX  OB/OS INDEX    

1H          Neutral                    Neutral       
4H          Bearish                   Neutral       
1D          Neutral                    Neutral        
1W         Bullish                     Neutral      

Call update: We had advised a long in our previous call (http://www.econotimes.com/FxWirePro-NZD-USD-bounces-off-100-DMA-support-good-to-go-long-on-dips-543085).

Recommendation: Trade with strict stop loss. Hold for upside. 

FxWirePro Currency Strength Index: FxWirePro's Hourly NZD Spot Index was at -27.3494 (Neutral), while Hourly USD Spot Index was at -127.601 (Highly Bearish) at 0200 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex
 

  • ET PRO
  • Market Data

Market-moving news and views, 24 hours a day >

December 15 21:00 UTC Released

USOverall Net Capital Flows

Actual

151.2 Bln USD

Forecast

Previous

-51.3 Bln USD

December 15 21:00 UTC Released

USNet L-T Flows,Incl.Swaps

Actual

7.9 Bln USD

Forecast

Previous

65.1 Bln USD

January 9 11:00 UTC 3409334093m

BRRetail Sales MM*

Actual

Forecast

0.35 %

Previous

January 9 11:00 UTC 3409334093m

BRRetail Sales YY*

Actual

Forecast

3.20 %

Previous

January 9 11:00 UTC 3409334093m

BRRetail Sales YY*

Actual

Forecast

3.20 %

Previous

January 9 11:00 UTC 3409334093m

BRRetail Sales YY*

Actual

Forecast

3.20 %

Previous

January 9 11:00 UTC 3409334093m

BRRetail Sales MM*

Actual

Forecast

0.35 %

Previous

January 9 11:00 UTC 3409334093m

BRRetail Sales YY*

Actual

Forecast

3.20 %

Previous

December 12 09:30 UTC 63186318m

GBRPIX YY

Actual

Forecast

Previous

4.2 %

December 12 09:30 UTC 63186318m

GBPPI Input Prices MM NSA

Actual

Forecast

Previous

1 %

Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.