The NZD/USD is likely to remain under pressure after downbeat 3Q retail sales data, says HiFX senior trader Stuart Ive. New Zealand retail sales fell 0.4% in 3Q from 2Q vs the median 0.5% rise forecast by economists polled by Dow Jones Newswires. "The pressure certainly remains on the downside purely on the basis of the retail sales (data)," Ive says, "but I don't think it will race away." The NZD/USD is at 0.8163 vs 0.8193 ahead of the data. Ive tips support at 0.8130 and resistance at 0.8200.
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