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NZD/USD holding the bid tone

FXStreet (Guatemala) - NZD/USD is trading at 0.8190, down -0.13% on the day, having posted a daily high at 0.8205 and low at 0.8187.

With relatively benign readings from the NZ current account reading> –USD1.06B vs -USD0.95B with the New Zealand Current Account - GDP Ratio at -2.5% as expected, the pair remains steady into the session. The bird holds onto the bid tone that came from the risk on events in the US session with a lower greenback as we move towards the FOMC. The key risk there will be in the press conference. "The amount of weight the market places (or does not place) on the Fed's own forecasts for the Fed Funds rate may in the end be the most important takeaway from the decision", explained analysts at RBS.

NZD/USD hourly levels

Spot is presently trading at 0.8190, and next resistance can be seen at 0.8207 (Weekly Classic PP), 0.8221 (Daily Classic R2), 0.8231 (Hourly 200 SMA) and 0.8231. Next support to the downside can be found at 0.8183, 0.8178 (Hourly 20 EMA) and 0.8177 (Hourly 100 SMA).

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