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NZD/USD gains for third consecutive day

FXStreet (Barcelona) - The New Zealand Dollar advanced against the greenback, taking the NZD/USD pair well above the daily 50 SMA level of 0.7875.

The NZD/USD traded 0.30% higher at 0.7904 at the time of writing. Moreover, the Kiwi is trading steady near the two-week highs after the release of a strong manufacturing data in New Zealand. The Business NZ Manufacturing Index rose to 59.3 in October. Meanwhile, the previous month’s print was revised higher to 58.5 from 58.1.

The Kiwi is likely to trade strong against the greenback ahead of the weekly jobless claims data in the US.

NZD/USD Technical Levels

The pair has an immediate support located at 0.7875, under which it can fall to 0.7839 levels. On the flip side, the pair may rise to 0.7976, if the immediate resistance at 0.7921 is breached.

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