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NZD/USD scrambles for recovery at 0.7766

FXStreet (Moscow) - NZD/USD dipped to the low at 0.7713 early in Asia, but managed to recover ground towards 0.7769, marginally higher from the opening level at 0.7763

No upside in sight

NZD/USD extended its decline and finished the week at 0.7768 after having tested new multi month lows at 0.7707. Kiwi movements have been defined by USD strength across the board and RBNZ dovish rhetoric aimed and weakening the currency. Fundamentally, nothing has changed, but the pair might be ripe for technical correction with the first aim at 0.7800. Once it is broken, the upside may be extended towards 0.7860 and 0.7926 (previous week’s high).

What are today’s key NZD/USD levels?

Today's central pivot point can be found at 0.7808, with support below at 0.77700, 0.7631 and 0.7523 with resistance above at 0.7877, 0.7985 and 0.8054. Hourly Moving Averages are bearish, with the 200SMA bearish at 0.7879 and the daily 20EMA bearish at 0.8016. Hourly RSI is bearish at 40

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