What a day for risk assets.The New Zealand dollar has taken full advantage of the softer US CPI with a 2.1% gain to completely erase a six-day losing streak ahead of today. So far, it's stalled at the November high of 0.6001 with barriers and technical resistance at the big figure.A series of China data releases are due out later, including retail sales and industrial production. If those are strong, or tomorrow's US retail sales report is weak, then I would expect it to break through. Even before then, we could see a run on stops that would bring the pair near the October high of 0.6050. This article was written by Adam Button at www.forexlive.com.
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