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NZD/USD clinches to 0.7800 pivot

FXStreet (Moscow) - NZD/USD started the day at 0.7842 and retraced back below 0.7800, towards Asian low at 0.7781, currently the pair is trading at 0.7801

Kiwi bulls fight for 0.7800

NZD/USD pushed off from 0.7713 reached early on Monday and finished the first trading day of the week at 0.7835. The pair attempted to move above the pivotal resistance at 0.7866, but failed to get through a thick layer of offers. The upside was caused by technical factors as kiwi recovered from deeply oversold levels. Now it seems that the correction is over as NZD/USD is back at 0.7800. Initial attempts to break below the said support were not successful, but bears are not going to give up soon. Later during the day keep an eye at US macroeconomic reports as they might support USD across the board.

What are today’s key NZD/USD levels?

Today's central pivot point can be found at 0.7807, with support below at 0.7747, 0.7652 and 0.7592 with resistance above at 0.7902, 0.7952 and 0.8057. Hourly Moving Averages are bearish, with the 200SMA bearish at 0.7847 and the daily 20EMA bearish at 0.7999. Hourly RSI is bullish at 50

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