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 >

August 20 23:00 UTC Released

JPReuters Tankan DI

Actual

27 %

Forecast

Previous

26 %

August 20 21:00 UTC Released

KRPPI Growth MM*

Actual

0.1 %

Forecast

Previous

-0.4 %

August 21 08:30 UTC 341341m

ID7-Day Reverse Repo*

Actual

Forecast

Previous

6.278 %

August 21 08:30 UTC 341341m

IDDeposit Facility Rate*

Actual

Forecast

Previous

18.283 %

August 21 12:30 UTC 581581m

IDLending Facility Rate*

Actual

Forecast

Previous

0.9 %

August 21 12:30 UTC 581581m

DEZEW Economic Sentiment*

Actual

Forecast

Previous

0.13 %

August 21 12:30 UTC 581581m

USNational Activity Index*

Actual

Forecast

Previous

0.13 %

August 21 12:30 UTC 581581m

CAWholesale Trade MM

Actual

Forecast

-0.4 %

Previous

0.9 %

August 21 14:30 UTC 701701m

TRReuters Tankan DI

Actual

Forecast

Previous

811.8 Bln TRY

August 21 14:30 UTC 701701m

DEZEW Current Conditions*

Actual

Forecast

Previous

811.8 Bln TRY

Close

Welcome to EconoTimes

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