NZD/USD has broken below the 0.8145 support zone to trade as low as 0.8127 (fresh 5-week low), last quoted 20 pips below the close Friday. A key Fibonacci retracement at 0.8130 (50%, 0.7912/0.8355 advance) is preventing further slides for the time being. Further support is tipped at 0.8090 (100-day EMA), which is confluent with the 61.8% Fibo retracement of the mentioned advance. Upside rallies may encounter selling interest at 0.8165.
The pair may have also found pressure from the AUD/NZD cross, which appears to be working up a technical correction, last week having held support in the 1.2500/20 region. Chinese Q3 GDP and industrial production data will influence NZD/USD direction in the week ahead.
Asian shares are fluctuating between gains and losses. At the time of writing, the Nikkei is up just a couple of points at 8,532.50. ASX is also down a modest 2 points at 4,484.50, while the Hang Sen is down 17.43 points at 21,119.00.