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NZD/USD holds above 0.7800

FXStreet (Córdoba) - NZD/USD is rising modestly on Tuesday, posting the second daily gain in a row. The pair continues to recover from 0.7705/10 but is having difficulties holding above 0.7865.

Yesterday peaked at 0.7865 but then pulled back below 0.7850 and today recently printed a new high at 0.7871 but quickly bounced back toward 0.7850, where currently trades.

NZD/USD technical outlook

The pair is moving with a bullish bias in the short term, making a correction to the dominant trend that points to the downside.

To the upside, the 0.7865/70 area limits the upside; a clear break could pushed the pair to 0.7900; above the next resistance might lie at 0.7925/30 (last week highs).

To the downside, in the short term, support could be located at 0.7800 and below at 0.7760/65 (Oct 1 low).

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