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NZD/USD: testing lows after retail sales miss

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 15, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    NZD/USD is little changed on the retail sales data, despite it falling below expectations of 1.5% and turning up at 1.2$ Q/Q Q4 2015.

    The cluster of MA's around the 100 sma on the hourly chart had been harboring the price, but the bird is starting to succumb to downside pressures and price is slipping away below the ma's at time of writing.

    NZD/USD the 200 dma is a strong resistance level and the bird has liuttle chance of crossing that bridge unless something fundamentally propells the bird to challenge the highs for the year so far at 0.6883 as key upside target. The 200 dma is located at 0.6686 today.

    NZD/USD levels


    0.6676 was today's high so far and the bird is slipping away from there in this data targeting 0.6620 on the downside guarding 0.6609 being the recent low. S1 is at 0.6558 and S3 at 0.6525.
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