• NZD/USD firmed on Wednesday as U.S. dollar weakened after U.S. retail sales data missed expectations .
• U.S. Commerce Department data on Tuesday showed U.S. retail sales were unexpectedly unchanged in December, putting pressure on consumer spending, which constitutes two-thirds of the economy.
•Investor attention this week will be focused on other upcoming U.S. data including monthly reports covering employment and consumer prices.
• The Reserve Bank of New Zealand’s OCR decision is due on Feb 18. Market attention will be on forward guidance, which is expected to play a key role in determining the NZD’s near-term trajectory.
· NZD/USD upswing remains intact . The July 1 high of 0.6120 continues to serve as a key topside target.
• Immediate resistance is located at 0.6080(23.6%fib), any close above will push the pair towards 0.6092(Jan 29th high).
•Support is seen at 0.5980 (38.2%fib) and break below could take the pair towards 0.5959(SMA 20).
Recommendation: Good to sell around 0.6030 with stop loss of 0.5930 and target price of 0.60120
