Forex: NZD/USD topples despite dismal US data release
Forex pairs in this Article »
NZD/USD
FXstreet.com (Barcelona) - The recent announcement of weak economic data in the United States has brought the NZDUSD under a new wave of selling as investors are apparently jumping ship. At the present, the pair is seeing its daily gains evaporate, whilst still occupying positive territory.
In the United States, Existing Home Sales Changes fell sharply -5.4% in June, clearly failing to meet its expectations of +1.1%. The Existing Home Sales figure (MoM) also came in below estimates, yielding a value of 4.37M vs. 4.63M in June. Additionally, the Learning Indicator (MoM) has also fell -0.3% in June against a consensus of -0.1%. Finally, the Philadelphia Fed Manufacturing Survey (MoM) rounded out an otherwise poor data release, reporting a value of -12.9 in July, against consensus expectations of -8.0.
Technically speaking, the pair is still trading up +0.21% in the area of 0.8020. Mataf.net technical analysts highlight resistances at 0.8038, 0.8073, and 0.8131. Conversely, supports will ultimately test the pair's decline at 0.7945, 0.7887, and finally 0.7852.
In the United States, Existing Home Sales Changes fell sharply -5.4% in June, clearly failing to meet its expectations of +1.1%. The Existing Home Sales figure (MoM) also came in below estimates, yielding a value of 4.37M vs. 4.63M in June. Additionally, the Learning Indicator (MoM) has also fell -0.3% in June against a consensus of -0.1%. Finally, the Philadelphia Fed Manufacturing Survey (MoM) rounded out an otherwise poor data release, reporting a value of -12.9 in July, against consensus expectations of -8.0.
Technically speaking, the pair is still trading up +0.21% in the area of 0.8020. Mataf.net technical analysts highlight resistances at 0.8038, 0.8073, and 0.8131. Conversely, supports will ultimately test the pair's decline at 0.7945, 0.7887, and finally 0.7852.
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