NZD/USD bulls come up for air, eye 0.5650 – by fx_ross NZDUSD Currencies DollarIndex
The mixed US data in thewas overall bullish for the greenback and US yields and a thorn in the side for the Federal Reserve as it battles with inflation headwinds aheaf of this week's US Consumer Price Index data and US Retail Sales. The bird was lower on the release of the data and moved in on a test below 0.5600. However, it has popped higher at the start of the week to tackle resistance up ahead as the charts below illustrate.meeting.
''We say mixed because while the data beat expectations and the Unemployment Rate fell, the pace of jobs creation fell and monthly earnings growth came in as expected. The USD DXY is now around 2½% higher than it was late last Tuesday, and all eyes are now on US CPI data later this week.'' are leading the way higher, the NZD needs positive rather than negative attention, and that seems to be lacking at present.''The price is attempting to slide out of the resistance of the dynamic bearish trendline that was formed on the back of the NFP data on Friday. A break there opens the risk of a correction into 0.5640/50 territories for the day ahead. First, the bulls need to clear 0.
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