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NZD/USD back below 0.7900 after head spinning rise

FXStreet (Moscow) - NZD/USD spiked above 0.7900 in Tokyo, after having started the day at 0.7785; currently the pair is trading at 0.7882 with strong bullish bias on intraday intervals.

NZD/USD bears paused before a new assault

Kiwi finished Wednesday well below 0.7800 despite numerous attempts to settle above said pivot. NZD/USD reached the intraday high at 0.7860 on the back of USD sell-off following disappointing Chicago PMI data. ANZ Commodity Price Index for September dipped, just as it was expected, due to sliding dairy prices. Kiwi reacted with a mild decline, though the support of 0.7760 was not broken and served as a reversal point that triggered technical rebound. Later during the day keep an eye at general USD dynamics and risk sentiments as they might influence NZD/USD future. Anyway, as long as the pair is below 0.7900 resistance longer-term bearish outlook remain entrenched.

What are today’s key NZD/USD levels?

Today's central pivot point can be found at 0.7803, with support below at 0.7743, 0.7701 and 0.7641 with resistance above at 0.7845, 0.7905 and 0.7947. Hourly Moving Averages are bearish, with the 200SMA bearish at 0.7944 and the daily 20EMA bearish at 0.8057. Hourly RSI is bullish at 64

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