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NZD/USD goes on exploring the downside

FXStreet (Moscow) - NZD/USD started the day at 0.8272 and dipped to the Asian low of 0.8249, though 0.8250 support held initial test. Currently, the pair is trading at 0.8258

Kiwi is hammered down

Kiwi weakened again on Monday. NZD/USD touched the intraday low at 0.8262 and recovered towards 0.8272 by the end of the day. The New Zealand currency is highly vulnerable these days as investors are waiting for RBNZ rate decision to be announced on Thursday. Broad USD strength increase the downside pressure on the pair. From the technical point of view, as soon as 0.8262 (Monday’s low) is broken. the low of 2014 at 0.8340 comes into play. This area might cap the downside for a while. On the upside the resistance is seen at 0.8282 (Asian high).

What are today’s key NZD/USD levels?

Today's central pivot point can be found at 0.8289, with support below at 0.8247, 0.8221 and 0.8179 with resistance above at 0.8315, 0.8357, and 0.8383. Hourly Moving Averages are bearish, with the 200SMA bearish at 0.8338 and the daily 20EMA bearish at 0.8382. Hourly RSI is bearish at 30.

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