NZD\/USD was steady early in the week, trading around 0.5660 and retaining a near-term bullish bias after firmer Chinese releases countered weaker New Zealand trade data. China\u2019s GDP expanded 4.5% in Q3, up from 4.3% in Q2 and above the 4.4% forecast, while September Retail Sales rose 1.1%, easing concerns over domestic demand.<\/p>\n\n
In New Zealand, the September trade deficit widened to NZD 1.97 billion from NZD 1.54 billion in August, and the Business PSI eased to 50.9 from a downwardly revised 51. In the US, the Dollar extended its softer tone as inflation stayed above the Federal Reserve\u2019s target and policymakers signalled a wait-and-see stance after September\u2019s rate hike ahead of the October 29-29 meeting.<\/p>\n\n
Technically, NZD\/USD has consolidated above 0.5630-0.5640, with RSI in the low 60s and MACD positive; resistance includes 0.5660 and the 0.5750 area, while a break below 1.5130 would expose 0.5590 and 0.5565.<\/p>\n\n\n\n