NZD/USD blows stops above 0.8180

FXstreet.com (Barcelona) - NZD/USD has been snapped back up from levels below 0.81 last Friday to currently be flirting with 0.82 after a strong stop-hunting induced move saw a 50 pips spike from 0.8150 to new session highs at 0.8207.

According to Peter Fell, Analyst at FXBeat: "There were stop loss buy orders above 8180, and better HSBC China PMI, has seen the "kiwi" surge from 8152 to 8208, I imagine, the fills on these stops would not have been pretty, the move looked ugly."

Fell suggests that retracements should now be limited to 8170/80, with supply seen near 8215 and more around 8250,.