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NZD/USD stopped the free fall; what now?

FXStreet (Moscow) - NZD/USD has recovered from 0.8330 towards 0.8245 amid of indecisive Asian trading

Kiwi paused

Kiwi dipped to new multi-month low at 0.8220 on Tuesday but managed to recover to 0.8245 by the end of the day. Investors are a bit nervous about kiwi are waiting for RBNZ rate decision to be announced early on Thursday. This event might become a good trigger for an upside correction, if the central bank refrains from dovish comments about the New Zealand economy. Another factor that may push NZD/USD higher - is USD bearish correction after a sharp rally across the board. From the technical point of view keep an eye at 0.8220 (Wednesday’s low) on the downside and 0.8266 (current Asian high) on the upside.

What are today’s key NZD/USD levels?

Today's central pivot point can be found at 0.8251, with support below at 0.8216, 0.8187 and 0.8152 with resistance above at 0.8280, 0.8315, and 0.8344. Hourly Moving Averages are bearish, with the 200SMA bearish at 0.8323 and the daily 20EMA bearish at 0.8369. Hourly RSI is bearish at 44.

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