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NZD/USD on the way to key 0.7920?

FXStreet (Barcelona) - NZD/USD is trading at 0.7966, up 0.00% on the day, having posted a daily high at 0.8037 and low at 0.7953.

NZD/USD has been hit on risk off with a strong dollar with the ECB chatter around their purchasing programs took the European session by storm and what little support the overnight news in the China data gave to the bird was wiped out. The housing data from the US also propped up a case for a weaker cross and leaves us here awaiting NZ CPI later in the week and FOMC around the corner. Technically, the pair is way below the rising trend support on the hourly and the downside is persistent through 0.7960 support with 0.7920 that will come as a major level.

NZD/USD noteworthy levels

Current price is 0.7967, with resistance ahead at 0.7983 (Yesterday's High), 0.7983 (Hourly 20 EMA), 0.7988 (Weekly High), 0.7995 (Daily Classic R1) and 0.8016 (Weekly Classic R1). Next support to the downside can be found at 0.7967 (Daily Open), 0.7955 (Daily Classic PP), 0.7953 (Daily Low), 0.7951 (Hourly 100 SMA) and 0.7943 (Daily 20 SMA).

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