Forex: NZD/USD trades at 0.8043 following US data release
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NZD/USD
FXstreet.com (Barcelona) - The NZDUSD has ceded some ground following the recent mixed release of several economic indicators in the United States this afternoon during the American session. Having retreated from a high of 0.8070, the pair has now settled in the area of 0.8043 at the time of writing.
In the United States, the Gross Domestic Product Annualized (Q2) grew +1.5% vs. estimates of only +1.4%. In addition, the Gross Domestic Purchases Price Index (Q2) came in at +1.5%, missing consensus expectations of +1.6%. Finally the Personal Consumption Expenditures Prices (QoQ) yielded a result of +0.7%, scoring lower than the +0.8% projected figure in Q2.
At the time of writing, the cross is still appreciating strongly at a rate of +0.29%. The technical analysts at ICN.com calculates the next measures of resistance at 0.8080, 0.8135, and finally 0.8160. On the descent, a penetration of 0.8015 will initiate the resistances at 0.7985 and 0.7930.
In the United States, the Gross Domestic Product Annualized (Q2) grew +1.5% vs. estimates of only +1.4%. In addition, the Gross Domestic Purchases Price Index (Q2) came in at +1.5%, missing consensus expectations of +1.6%. Finally the Personal Consumption Expenditures Prices (QoQ) yielded a result of +0.7%, scoring lower than the +0.8% projected figure in Q2.
At the time of writing, the cross is still appreciating strongly at a rate of +0.29%. The technical analysts at ICN.com calculates the next measures of resistance at 0.8080, 0.8135, and finally 0.8160. On the descent, a penetration of 0.8015 will initiate the resistances at 0.7985 and 0.7930.
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