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9 Aug 2013
NZD/USD soars to 2-week highs
FXstreet.com (Chicago) - NZD/USD accumulated 0.58% gains against the greenback as it had edged to 2-week highs three consecutive times before peaking to 0.8057 intraday high.
Price action indicated the pair ascended above immediate resistance at 0.8054 momentarily as steady climb continued throughout Friday afternoon. Earlier in Asia, China released factory data that propelled optimistic sentiments among worldwide market participants. In New Zealand, electronic card retail sales for June (YoY reached 7.7% vs. previous 5.1% and expected 7.2%. After milky-powder bans by China on Fonterra’s products, a New Zealander enterprise, the kiwi was smashed to lower grounds earlier this week.
Technically speaking, the pair traded at 0.8046 between supports at 0.8034 (July 20th highs), 0.8014 (July 30th highs) ahead of 0.8000 (July 31st highs) and resistances at 0.8054 (July 26th lows), 0.8064 (July 27th lows) ahead of 0.8075 (July 28th highs).
Price action indicated the pair ascended above immediate resistance at 0.8054 momentarily as steady climb continued throughout Friday afternoon. Earlier in Asia, China released factory data that propelled optimistic sentiments among worldwide market participants. In New Zealand, electronic card retail sales for June (YoY reached 7.7% vs. previous 5.1% and expected 7.2%. After milky-powder bans by China on Fonterra’s products, a New Zealander enterprise, the kiwi was smashed to lower grounds earlier this week.
Technically speaking, the pair traded at 0.8046 between supports at 0.8034 (July 20th highs), 0.8014 (July 30th highs) ahead of 0.8000 (July 31st highs) and resistances at 0.8054 (July 26th lows), 0.8064 (July 27th lows) ahead of 0.8075 (July 28th highs).