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NZD/USD settled right under 0.7900

FXStreet (Moscow) - NZD/USD returned to sub-0.79 area after having reached the Asian high at 0.7926; currently, the pair r is trading at 0.7875 with bearish bias.

Nothing serious, just a correction

NZD/USD has recovered losses incurred earlier this week, though kiwi fundamental background has hardly changed. RBNZ is still sure that the exchange rate should be much lower; commodity prices are under pressure, risk sentiments are sour. Generally, this movement should be regarded as technical correction from deeply oversold levels that may be extended ahead of Friday’s Non Farm Payrolls report. Later during the day keep and eye at 0.7800 support followed by 0.7785 (Asian opening). The upside is likely to be capped by 0.7925

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 0.7942 and the daily 20EMA bearish at 0.8057. Hourly RSI is bullish at 70

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