New Zealand retail sales for Q2 are due at 2245GMT, so just a heads-up:

  • Consensus economist expectations are for +1.5% and prior was 0.5%

If anything I would think the potential is for a surprise to the topside given the gaining strength in the NZ economy.

Earlier on I said NZD/USD levels initially are support below 0.7940 and initial resistance 0.7970. these are still the initial levels to watch, and then:

Topside – resistance at 0.8010/15, then 0.8062/67

Downside – support 0.7935/40, 0.7915/20, 0.7885/90