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NZD/USD bears stopped by 0.8130/27 support

FXStreet (Moscow) - NZD/USD has recovered from 0.8129 low reached on the back of USD strength and poor Chinese data; the pair is trading at 0.8142 after opening the day at 0.8146.

Kiwi is a bird that cannot fly

NZD/USD dropped to 0.8130 area helped by stronger US fundamentals and weaker Chinese data that cast doubts on further growth of this Asian giant. The New Zealand economy is highly dependent on Chinese demand. That is why kiwi is sensitive to the economic news from China. NZD/USD was one of the worst performing currency of the week, together with Aussie. The downside bias is strong as long as the pair trades below 0.8196/00. If this resistance is broken, a more pronounced correction might be in store for us. On the intraday basis, an important support is seen at 0.8127 (daily low). If it is broken, the downside may accelerate towards 0.8100. The upside is likely to be limited by bespoke resistance of 0.8147 (daily open).

What are today’s key NZD/USD levels?

Today's central pivot point can be found at 0.8162, with support below at 0.8128, 0.8107 and 0.8073 with resistance above at 0.8183, 0.8217, and 0.8238. Hourly Moving Averages are bearish, with the 200SMA bearish at 0.8261 and the daily 20EMA bearish at 0.8321. Hourly RSI is bearish at 34

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