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FxWirePro: NZD/USD under pressure after early buying dries up

• NZD/USD drifted lower  on Thursday as US dollar recovered, erasing losses from US data impact.

• The US consumer price index rose 0.4% last month, the largest gain since March, after climbing 0.3% in November, the Labor Department's Bureau of Labor Statistics said.

• U.S. December retail sales and weekly jobless claims reports pose key market risks on Thursday, as investors closely monitor the data for insights into consumer spending trends and labor market conditions.

• At (GMT 06:13) Kiwi dollar was trading at down  0.27% to 0.5600 against the U.S. dollar. 

•  Immediate resistance is located at 0.5632(38.2%fib), any close above will push the pair towards 0.5693(50%fib).

•Support is seen at 0.558542 (Jan 2nd low) and break below could take the pair towards 0.5546(23.6%fib).

 Recommendation: Good to sell around 0.5620 with stop loss of 0.5680 and target price of 0.5550

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