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NZD/USD sidelined, waiting for FOMC and RBNZ

FXStreet (Moscow) - NZD/USD  is squeezed in a narrow 26-pip range limited by 0.7933 on the upside and 0.7909 on the downside during quiet Asian session. Currently the pair is trading at 0.7923, marginally above the opening level.

NZD/USD closed above 0.7900 on daily basis after having touched 0.7957 high. Today’s Asian session is very quiet as markets are focused on FED’s meeting which started Tuesday, with a a decision due later today. The FOMC meeting is not expected to bring any surprises, though volatility is warranted. Moreover, we have RBNZ meeting early in Asia on Thursday. This is anther risk event for kiwi that keeps traders at bay. From the technical point of view, the nearest resistance for NZD/USD comes at 0.7933 (Asian high), once it is broken the pair may continue the upside towards 0.7957 (Tuesday’s high). The support is seen at 0.7900, it is followed by 0.7880.

What are today’s key NZD/USD levels? 

Today's central pivot point can be found at 0.7921, with support below at 0.7882, 0.7843 and 0.7804, with resistance above at 0.7960, 0.7999 and 0.8038. Hourly Moving Averages are bearish, with the 200SMA bullish at 0.7915 and the daily 20EMA flat at 0.7922. Hourly RSI is bullish at 54.

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