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NZD/USD off Asian lows but still vulnerable

FXStreet (Moscow) - NZD/USD  is quiet, trading marginally below the opening level at 0.7837 after having dipped to the session low at 0.7806.

Kiwi has been moving within a rising wedge formation visible of daily chart. This much needed consolidation after a head-spinning fall from July’s high at 0.8835 might be coming to an end as risk aversive sentiments are getting stronger. Among some other factors that may trigger kiwi’s sell-off, Chinese slow down and weakening commodity prices are of note. Global Dairy trade results are published later during the day. Dairy prices have lost about 45% since February and may continue moving to the South. If this is the case, NZD/USD might resume the downside and break below 0.7800 support with the initial aim at 0.7760.

What are today’s key NZD/USD levels?

Today's central pivot point can be found at 0.7861, with support below at 0.7803, 0.7764 and 0.7706 with resistance above at 0.7900, 0.7958 and 0.7997. Hourly Moving Averages are mixed, with the 200SMA bearish at 0.7847 and the daily 20EMA bearish at 0.7936. Hourly RSI is bearish at 43

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