Back
13 Jun 2013
NZD/USD higher despite US data
FXstreet.com (London) - Despite better than forecasted data from the US, the NZD/USD has continued to move on up, albeit very modestly after an initial drop and failing to convincingly penetrate 0.8000.
Core US retail sales edged up modestly in data released this afternoon which signals that consumer spending should slow up to much in the 2nd quarter after falling in April. Retail Sales (MoM) are up to 0.6% vs 0.1% in Apr. Ex-autos 0.3% vs. -0.1%.Also, Jobless Claims decreases to 334K vs 346K while US May
NZD/USD completed a bullish wave
The NZD/USD pair settled above 0.7920 earlier on in the session which was a position teams at ICN.com considered positive, which had been capable of carrying the pair into a bullish wave seen throughout the European morning session. 0.8065 is a target area after 0.8025 high of the day. 0.7941 acts as the pivot point, while EMA’s are offering a bullish signal on the hourly shorter term time frames in an overall bearish long term trend line.
Core US retail sales edged up modestly in data released this afternoon which signals that consumer spending should slow up to much in the 2nd quarter after falling in April. Retail Sales (MoM) are up to 0.6% vs 0.1% in Apr. Ex-autos 0.3% vs. -0.1%.Also, Jobless Claims decreases to 334K vs 346K while US May
NZD/USD completed a bullish wave
The NZD/USD pair settled above 0.7920 earlier on in the session which was a position teams at ICN.com considered positive, which had been capable of carrying the pair into a bullish wave seen throughout the European morning session. 0.8065 is a target area after 0.8025 high of the day. 0.7941 acts as the pivot point, while EMA’s are offering a bullish signal on the hourly shorter term time frames in an overall bearish long term trend line.