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NZD/USD sellers alleviate upside pressure

NZD/USD traders could soon see a period of short-term weakness on an intraday basis, allowing for some severe overbought studies to unwind.

The 50 SMA is above the 200 SMA on the hourly chart, at a distance superior to the daily ATR. This indicates an up-trending condition.

Longer-term traders following the 4H stochastic above 50%, don’t necessarily need to liquidate their long positions, but the 1-hour stochastic is increasingly hinting that it could be necessary soon.

The oscillator has build a plateau above the 70% level for more than eight hours and has just abandoned overbought territory with the recent hourly close. This is a warning of a potentially important short-term top.

Poland Consumer Price Index (MoM) increased to -0.3% in September from previous -0.4%

Poland Consumer Price Index (MoM) increased to -0.3% in September from previous -0.4%
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NZD/USD leads commodity-currencies higher, up 1%

The solid performance on Asian and European indices and metals prices boosted the risk-sentiment and drove the commodity-currencies higher across the board, with the Kiwi leading the pack.
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