NZD/USD jumps to session highs

FXstreet.com (New York) - The <a href="http://www.fxstreet.com/technical-studies/currencies/nzdusd/">NZD/USD foreign exchange rate climbed ahead, following the first of a multi-tiered data release in New Zealand during the Asian trading Tuesday.

NZD/USD regains 0.7800

The NZD/USD is presently trading at 0.7812, operating at session highs and recording a gain of +0.08% thus far. The Danske Research team isolates the next resistive measures 0.7810, and 0.7861, onto 0.7894.

NZD/USD jumps on solid NZ data

In New Zealand, the NZIER Business Confidence (QoQ) was reported at 32% in Q2, relative to a figure of 23% previously. In addition, later today at 22:45 GMT, New Zealand will also report Electronic Retail Card Sales (MoM and YoY) in May, both of which are projected to be in line with previous figures.

New Zealand: NZIER Business Confidence (QoQ) (2Q): 32% vs 23%

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The EUR/USD looks vulnerable to further downside, with only one good support zone between 1.2792 and 1.2746 left, notes Niall O'Connor, Currency Strategist at JP Morgan.
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