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NZD/USD mellowed below 0.7800 on the back of USD rise

FXStreet (Moscow) - NZD/USD spiked to 0.7820 before retracing towards 0.7766 on the back of profit-taking; the pair is about 30 pips lower on the day

The upside was short-lived

NZD/USD recovered from deeply oversold levels on Tuesday. The pair managed to finish the day marginally above 0.7800 level despite broadband USD strength. Though the upside correction turned out to be short-lived as kiwi resumed the downside in Asia on Wednesday on the back of risk aversive sentiments and looming twice-monthly Global Dairy Trade auction. From the technical point of view the nearest support is seen at yesterday’s low of 0.7738, it is followed by 0.7700 pivot. The resistance comes at 0.7800 and then at 0.7830.

What are today’s key NZD/USD levels?

Today's central pivot point can be found at 0.7793, with support below at 0.7754, 0.7700 and 0.7661 with resistance above at 0.7847, 0.7886 and 0.7940. Hourly Moving Averages are bearish, with the 200SMA bearish at 0.7984 and the daily 20EMA bearish at 0.8085. Hourly RSI is bearish at 43

GBP/USD nervous below 1.6200, waiting for data

GBP/USD has been on retreat since the Asia opening; the pair has dropped below 1.6200 and touched current intraday low at 1.6178 before settling at 1.6183.
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