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NZD/USD is pressing lower in a significant fashion

FXStreet (Barcelona) - NZD/USD is trading at 0.7835, down -1.18% on the day, having posted a daily high at 0.7932 and low at 0.7832.

NZD/USD has continued to drop and threatens S3 as last defence for the handle, making the picture look bleak for the bird as thereafter we are back into the journey of the downside on the weekly charts where significantly the trend support has been broken. Key levels will be in 0.7680’s on that note.

The catalyst for the move lower today was first in the US session with CPI 0.1% higher than anticipated sending the greenback on a rally. Then, earlier we had the NZ Consumer Prices Index third quarter results that came in lower than expected at 1.0% y/y vs 1.2% estimated and 1.6% previous. We also got a reading of 0.3% q/q vs 0.5% estimated and 0.3% previous.

NZD/USD noteworthy levels

Spot is presently trading at 0.7836, and next resistance can be seen at 0.7889 (Daily Classic S2), 0.7905 (Weekly Classic PP), 0.7917 (Yesterday's Low), 0.7920 (Hourly 200 SMA) and 0.7921 (Weekly Low). Support below can be found at 0.7834 (Daily Classic S3), 0.7832 (Daily Low), 0.7811 (Weekly Classic S1), 0.7765 (Monthly Low) and 0.7765 (Annual Low).

AUD/USD creeping lower in bear trend

AUD/USD is trading at 0.8757, down -0.24% on the day, having posted a daily high at 0.8783 and low at 0.8757.
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