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NZD/USD being pressured to the downside

FXStreet (Guatemala) - NZD/USD is trading at 0.8365, down -0.20% on the day, having posted a daily high at 0.8386 and low at 0.8365.

NZD/USD has extended the downward pressure through 0.8370 as bears seek out the midweeks support line formed at 0.8360, taking advantage of poor business confidence in New Zealand. Meanwhile, we have the US session that may bring about last minute changes to the pair with a number of data releases. Rabobank analysts explained, “In the US we see personal income and spending for July; income is seen +0.3% MoM and spending +0.2%; theChicago PMI is also out and after the sharp fall last month is expected to rebound back to 56.5; and final Michigan confidence (consensus: 80) rounds out the week”.

NZD/USD hourly levels

Spot is presently trading at 0.8367, and next resistance can be seen at 0.8380 (Hourly 20 EMA), and 0.8386 (Hourly 200 SMA). Next support to the downside can be found at 0.8360 (Hourly 100 SMA) and 0.8338 (Daily Classic S2).

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