Forex: NZD/USD tests 0.82; China data in focus

FXstreet.com (San Francisco) - The NZDUSD traded up to new session highs above the 0.8200 figure this Friday afternoon, extending as high as 0.8204 before sellers dragged price back down to current levels, last quoted in the 0.8190 price zone.

The mentioned action is just the latest leg in the consolidative price behavior we've seen all week around the 38.2% Fibonacci retracement of the advance from 0.9712 to 0.8355. The 200-hr EMA (0.8200) also attracted bears and capped upside rallies.

NZDUSD appears to be trading near the lower boundary of channel support, which is confluent with the 50-day EMA and the 50% Fibo level of the mentioned advance.

Weekend China data is now in focus this Friday, as investors now await the release of the nation's economic data for September. Tomorrow (Saturday), trade data is scheduled for release. On Monday, inflation numbers are due, and then third-quarter GDP figures are due out Thursday.

Asian share markets are somewhat higher ahead of China's data surge. At the time of writing, the Nikkei is down 6.28 points at 8,540.50, the ASX is quoted up 3.37 points at 4,486.90, and Hang Sen is up 104.95 points at 21,104.00.