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NZD/USD: a sad story of diving kiwi

FXStreet (Moscow) - Since Asian opening NZD/USD has been moving within 40-pips range with bearish bias; the pair is keeping close to 0.8166 support.

What about nose-diving kiwi?

NZD/USD resumed the downside early in Asia and even better than expected Chinese new loans data failed to reverse the momentum. Kiwi is hammered down on dovish RBNZ expectations contrasting with presumably hawkish FED. The pair has stabilized close to Asian lows, though the downside may be extended later during the day as the market focus shifts onto US retail sales numbers. A forecasted growth of 0.6% m/m would match the strongest increase since March and support the idea of US economy full fledged recovery. In this case USD might get another upside boost across the board. From the technical point of view, the nearest support is seen at 0.8166/60, followed by 0.8130. The upside correction is likely to be limited by 0.8185.

What are today’s key NZD/USD levels?

Today's central pivot point can be found at 0.8192, with support below at 0.8154, 0.8124 and 0.8086 with resistance above at 0.8222, 0.8260, and 0.8290. Hourly Moving Averages are bearish, with the 200SMA bearish at 0.8279 and the daily 20EMA bearish at 0.8339. Hourly RSI is bearish at 40.

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