NZD/USD on the back foot, below 0.8200 left behind

FXStreet (Moscow) - Since Asian opening NZD/USD dropped from 0.8203 at the opening and touched the low at 0.8171 amid USD rebound across the board ahead FOMC decision.

No luck for kiwi yet

NZD/USD managed to finish Tuesday marginally above 0.8200 pivot after moving to intraday high at 0.8229. The upside was caused by Chinese QE program announcement and USD downside correction across the board. Though it seems like kiwi bulls are not ready for a true breakout yet as the pair returned below 0.8200 early in Asia, having lost most of yesterday’s gains. Later during the day markets will be focused on US inflation numbers that are expected to show reduced pricing pressure, but the key risk event is the announcement of FOMC decision. Most likely, NZD/USD will move within a range limited by 0.8145 (Tuesday’s low) on the downside and 0.8200 on the upside ahead of the announcement.

What are today’s key NZD/USD levels?

Today's central pivot point can be found at 0.8193, with support below at 0.8154, 0.8107 and 0.8068 with resistance above at 0.8240, 0.8279, and 0.8326. Hourly Moving Averages are bearish, with the 200SMA bearish at 0.8226 and the daily 20EMA bearish at 0.8297. Hourly RSI is bearish at 46