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NZD/USD resumed the downside; 0.7850 support tested

FXStreet (Moscow) - NZD/USD finds 0.79000 a very hard nut to crack as the pair retraced from Asian high at 0.7911 and settled at 0.7866

Kiwi learns to fly

NZD/USD gained about 100 pips on Thursday on the back of antipodean currencies rally during Asian hours. Kiwi has a good chance to finish the week in the green zone – for the first time since mid-July. The decline has been too steep, so the correction is inevitable. Technically, a weekly close above 0.7860 (previous week’s low) would signal that bears are exhausted, while a sustained growth above 0.7900 would suggest that a more pronounced upside correction is in store. Later during the day, don’t miss US Non Farm Payrolls report, notorious for its big revisions and disproportionate market reactions. Keep an eye at 0.7850/30 on the downside as positive news from the USA might trigger USD rally across the board.

What are today’s key NZD/USD levels?

Today's central pivot point can be found at 0.7866, with support below at 0.7803, 0.7704 and 0.7641 with resistance above at 0.7965, 0.8028 and 0.8127. Hourly Moving Averages are bearish, with the 200SMA bearish at 0.7914 and the daily 20EMA bearish at 0.8042. Hourly RSI is bullish at 51

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