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NZD/USD dumps half a big fig on NZ CPI

FXStreet (Barcelona) - NZD/USD is trading at 0.7879, down -0.62% on the day, having posted a daily high at 0.7932 and low at 0.7866.

It has been yet again quite a day for the greenback and on this occasion, it has taken the kiwi for a ride. NZD/USD has dropped over half a big figure as the Consumer Prices Index (3Q) came in lower than expected at 1.0% y/y vs 1.2% estimated and 1.6% prior. We also got a reading of 0.3% q/q vs 0.5% estimated and 0.3% previous. The greenback has taken full advantage and has rallied to test the critical support here and eyes S1 at 0.8747 ahead of 0.8714.

NZD/USD noteworthy levels

Current price is 0.7880, with resistance ahead at 0.7889 (Daily Classic S2), 0.7905 (Weekly Classic PP), 0.7917 (Yesterday's Low), 0.7919 (Hourly 200 SMA) and 0.7921 (Weekly Low). Next support to the downside can be found at 0.7866 (Daily Low), 0.7834 (Daily Classic S3), 0.7811 (Weekly Classic S1), 0.7765 (Monthly Low) and 0.7765 (Annual Low).

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