NZD/USD offered at 38.2% Fibo, supported by upbeat NZ data

The two-day winning streak in NZD/USD has been stalled in Asia as the pair failed to breach 0.7333 (38.2% of 0.4891-0.8842).

The subsequent losses have been capped around 0.73 handle following the release of the upbeat New Zealand data.

Trades above 0.73

The spot currently trades around 0.7310. New Zealand ANZ consumer confidence printed (2.8% m/m, prev -0.4%) at an eight month high. Moreover, the failure at the key Fibo level of 0.7333 is seen despite the batch of dismal US data releases in the overnight trade.

Ahead in the day, the pair could take cues from US consumer price index number and preliminary Michigan Confidence figure.

NZD/USD Technical Levels

Breach of 0.7333 (38.2% of 0.4891-0.8842) would open doors for a re-test of 0.7364 (Sep 13 high) and 0.7380 (Aug 26 high). On the other hand, a breakdown of support at 0.73 could yield a move to 0.7268 (Sep 2 low) and 0.7235 (Sep 13 low).