- NZD/USD refreshes intraday low after China Retail Sales drop below expectations.
- Thursday’s low on the bears’ radar, a confluence of 100-HMA, weekly resistance line guards recovery moves.
NZD/USD drops the intraday low of 0.5987, down 0.27% on a day, after China’s Retail Sales disappointed Kiwi traders on early Friday.
China’s Retail Sales slipped below -7.0% forecast to -7.5% whereas Industrial Production grew more than 1.5% expected to 3.9% in April.
The pair currently aims to revisit the weekly low surrounding 0.5955 during the further declines. However, a descending trend line from May 12, close to 0.5930, followed by April 23 low near 0.5910, can lure the bears afterward.
On the contrary, a confluence of 100-HMA and a falling trend line from May 11 keeps the pair’s immediate upside guarded around 0.6045/50.
Should buyers manage to cross 0.6050, May 12 high near 0.6123 can return to the charts.
NZD/USD hourly chart
Additional important levels
|Today last price||0.5994|
|Today Daily Change||-10 pips|
|Today Daily Change %||-0.17%|
|Today daily open||0.6004|
|Previous Daily High||0.6005|
|Previous Daily Low||0.5957|
|Previous Weekly High||0.6148|
|Previous Weekly Low||0.5994|
|Previous Monthly High||0.6176|
|Previous Monthly Low||0.5843|
|Daily Fibonacci 38.2%||0.5987|
|Daily Fibonacci 61.8%||0.5975|
|Daily Pivot Point S1||0.5972|
|Daily Pivot Point S2||0.5941|
|Daily Pivot Point S3||0.5924|
|Daily Pivot Point R1||0.602|
|Daily Pivot Point R2||0.6037|
|Daily Pivot Point R3||0.6068|
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