NZD/USD Buoyant on Strong NZ 3Q Retail Sales, Bullish NZD/JPY

        0033 GMT [Dow Jones] NZD/USD is likely to consolidate with a bullish bias Monday after hitting a two-week high of 0.7956 this morning, stalling near the 55-day moving average. The pair is supported by stronger-than-expected 1.5% on-quarter growth in New Zealand 3Q retail sales (versus forecast +0.9%) and a bullish NZD/JPY cross (which hit a seven-year high of 92.79 this morning after very weak Japan 3Q GDP data). The daily chart is positive-biased as a bullish outside-day-range pattern completed Friday; the MACD and slow stochastic indicators are bullish; and the five-day moving average is above the 15-day moving average and advancing. A rise above 0.7956 would target 0.7976 (Oct. 29 high), then 0.7990 (Oct. 22 high) and 0.8033 (Oct. 21 reaction high). Support is at 0.7873 (hourly chart), then at 0.7822 (Friday's low); a breach would temper the positive near-term view, exposing downside to 0.7796 (Wednesday's low). Spot NZD/USD is at 0.7928. (jerry.tan@wsj.com)
        (END) Dow Jones Newswires

        November 16, 2014 19:33 ET (00:33 GMT)