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NZD/USD trades at daily highs at 0.7880

FXStreet (San Francisco) - The New Zealand dollar is flying away of 0.7850 against the US dollar as the pair jumped 30 pips to break above 0.7875 with an intra-day high of 0.7880 reached.

Fed worries on inflation supported the pair above 0.7825 overnight, but the China flash PMI came in at six-month low and put some pressure on the Kiwi that visited the 0.8705 level. However the pair managed to recover ground and, after a period of consolidation around 200 hours MA at 0.7865, the NZD/USD is now trading at highs at 0.7880.

Currently, NZD/USD is trading at 0.7876, up 0.23% on the day, having posted a daily high at 0.7883 and low at 0.7806. The FXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is slightly bullish.

NZD/USD levels

Above 0.7880, the NZD/USD will face next resistances at 0.7890, 0.7900 and 0.7920. To the downside, supports are at 0.7840, 0.7820 and 0.7800.

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