NZD/USD moving higher on bullish Asia-Pacific attitude early Monday

FXstreet.com (Barcelona) - The NZD/USD cross is continuing the bounce that began late Friday – now with a little more gusto thanks to bullish Chinese data over the weekend and bullish action in the equity markets in the region early Monday.

NZD/USD traders to focus on technicals given the dearth of US data Monday

The NZD/USD cross little / no data to which it can react for the rest of the Monday session since the US markets are closed due to Veterans’ Day. In such a void of data flow, technicals tend to take over.

Technical outlook for NZD/USD

Elliott Wave technicians say NZD/USD is in the early stages of the “c” wave of an “abc” correction higher. The upside target for this wave is approximately 0.8429 using Elliott Wave measuring techniques. Initial support comes in at Friday’s low of 0.8235 and is followed by the 10/30 low of 0.8191.

Flash: Specs piling on USD longs - Nomura

For the week ending Nov 5 there was $10.7bn USD buying, bringing positioning to $6.6bn of net longs from -$4.1bn of net shorts, with -$6.6bn of EUR selling, reducing net longs from $12.1bn to $5.6bn, notes Nomura.
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USD/CHF edging higher; still below 0.9250

USD/CHF prints higher highs and lows extending the bullish channel that started a few hours ago. The momentum generated on NFP data last Friday seems to last as market participants maintain high performance and double tops (spikes last Friday and Wednesday) ahead of the American session with low volume on Veterans Day and no data releases in Switzerland.
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