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NZD/USD extends 0.7870 rejection and trades at fresh 1-week lows

FXStreet (San Francisco) - The New Zealand dollar is extending its 0.7870's rejection versus the American dollar as the pair fell 45 pips in the last three hours before reaching fresh lows since October 15 at 0.7820.

The NZD/USD is trading under pressure amid inflation numbers from New Zealand that came lower that expected. Currently, NZD/USD is trading at 0.7828, down 1.24% on the day, having posted a daily high at 0.7932 and low at 0.7824.

The hourly FXStreet OB/OS Index is showing neutral conditions, alongside the FXStreet Trend Index which is strongly bearish.

NZD/USD levels

With a successful 0.7820 break, the NZD/USD will face next supports at 0.7805 and 0.7795. To the upside, resistances are at 0.7870, 0.7880 and 0.7910.

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