FxWirePro: NZD/USD opens with a bullish gap, Kiwi buoyed after New Zealand retail sales surge 1.7% in Q4

NZD/USD chart on Trading View used for analysis

• NZD/USD opens with a bullish gap in early Asia, intraday bias higher.
   
• Kiwi buoyed after New Zealand retail sales surge 1.7% in the fourth quarter compared with a 0.0% growth registered during the third quarter of the last-year. 
   
• The retail sales ex-autos were reported to have increased by 2.0% over the same period against 0.4% prior growth.
   
• Technical support upside on the daily charts. Stochs and RSI are biased higher.
   
• The pair has bounced off 200-DMA support and could see test of 0.6930 (Triangle top).
   
• 5-DMA is immediate support. Break below 21-EMA will see retrace till 200-DMA.

Support levels - 0.6850 (5-DMA), 0.6824 (21-EMA), 0.6751 (200-DMA)

Resistance levels - 0.6893 (Feb 18 high), 0.6930 (Triangle top), 0.6941 (Feb 1 high)

For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.