The spot NZD/USD is up at 0.7430 versus 0.7409 late Monday as a lower-than-expected China January CPI of +0.8% on-year (versus forecast +0.9%) brought forward the timing expected for further stimulus measures from China's central bank, boosting demand for resource-linked currencies such as the New Zealand dollar. Daily chart is tilting positive as slow stochastic measure rising from oversold levels; MACD staging bullish crossover against its exponential moving average. Resistance at 0.7439-0.7448 band (Monday's high-Wednesday's high); breach would target 0.7494 (Jan. 28 high), then 0.7526 (Jan. 23 high). Support at 0.7321 (Monday's low); breach would temper positive near-term view, targeting 0.7288 (Wednesday's low). (jerry.tan@wsj.com)
(END) Dow Jones Newswires
February 09, 2015 23:16 ET (04:16 GMT)
Description: NZD/USD Buoyant on Below-Forecast China CPI -- Market Talk
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