NZD/USD daily
What a day for risk assets.
The New Zealand dollar has taken full advantage of the softer US CPI with a 2.1% gain to completely erase a six-day losing streak ahead of today. So far, it’s stalled at the November high of 0.6001 with barriers and technical resistance at the big figure.
A series of China data releases are due out later, including retail sales and industrial production. If those are strong, or tomorrow’s US retail sales report is weak, then I would expect it to break through. Even before then, we could see a run on stops that would bring the pair near the October high of 0.6050.