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NZD/USD retreated from European highs to 0.8070 area

FXStreet (Moscow) - NZD/USD touched 0.8092 high in early Europe, but retreated to 0.8066 session low; it Is currently trading at 0.8070.

Chances to break

Although kiwi looks oversold, and makes desperate attempts to rebound, the pair has problems testing 0.8090 resistance. The sellers’ demand sent the pair back to 0.8070 area. A sustained movement above 0.8100 is needed to improve short-term sentiments on the kiwi, and today the pair may have chances for the breakout, as US housing data on the agenda. In case of weaker than expected readings, the move above 0.81 is not ruled out.

What are today’s key NZD/USD levels?

Today's central pivot point can be found at 0.8081, with support below at 0.8013, 0.7975 and 0.7907 with resistance above at 0.8119, 0.8187 and 0.8225. Hourly Moving Averages are bearish, with the 200SMA bearish at 0.8141 and the daily 20EMA bearish at 0.8222. Hourly RSI is bearish at 46

Italy Trade Balance non-EU: €1.727B (August) vs previous €2.15B

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