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NZD/USD back above 0.7900, but still vulnerable

FXStreet (Moscow) - NZD/USD  has recovered towards 0.7938 after having fallen below 0.7900 to 0.7875 on RBNZ verbal interventions.

NZD/USD is not ready to go above 0.8000 resistance, as the pair reverted from this is area on Thursday on the back of technical correction. While the pair is vulnerable to RBNZ talk about unjustified NZD exchange rate, USD sentiments remain its key short-term driver. Ahead looks like a quiet calendar with Fed’s Yellen is the biggest name on the US dancing card. If she sounds dovish enough, USD may finish the week with a new sell-off. Both industrial production figures and Philly Fed index came out slightly better than expected to support the view that the US economy is recovering. Though Yellen may refer to external shocks and strong dollar as an immediate risk factors. From the technical point of view the initial support is seen at 0.7900 and 0.7875 (Asian low). The resistance comes at 0.7960.

What are today’s key NZD/USD levels?

Today's central pivot point can be found at 0.7947, with support below at 0.7894, 0.7833 and 0.7780 with resistance above at 0.8008, 0.8061 and 0.8122. Hourly Moving Averages are mixed, with the 200SMA bullish at 0.7873 and the daily 20EMA bearish at 0.7942. Hourly RSI is bearish at 48

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