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NZD/USD's recovery capped at 0.7800

The New Zealand dollar's bounce from 14-month lows at 0.7705 found resistance at 0.7800 where the pair was sold and launched back to 0.7765.

The NZD/USD is trading under pressure amid reports about the RBNZ was selling the NZD in August. In addition, New Zealand FinMin Bill English recently commented that a "high NZD is a headwind that is reducing strength."

Currently, NZD/USD is trading at 0.7768, down 1.26% on the day, having posted a daily high at 0.7871 and low at 0.7705. The FXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is slightly bullish.

NZD/USD levels

If the pair manages to break above the 0.7800 level, it will face next resistances at 0.7850 and 0.7880. On the downside, supports are at 0.7755, 0.7700 and 0.7780.

USD/JPY upside still likely above 108.50

USD/JPY is trading at 109.39, up 0.10% on the day, having posted a daily high at 109.76 and low at 109.13.
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