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Forex: NZD/USD trading negatively at 0.8235/38

The NZD/USD downside has continued into Tuesday as the pair has been in decline since the overnight session, extending well into these moments during European trading. The cross is firmly entrenched in the red, down -0.36% off its opening, as it attempts to slow the bleeding at 0.8235/38.

According the Technical Analyst Team at ICN.com, “The NZD/USD rose yesterday in response to oversold signals shown on the stochastic. Meanwhile, trading is still stable below Linear Regression Indicator 55, keeping the possibility of negativity valid.”

ICN.com analysts have calculated the next supports at the 0.8225 level, onto 0.8200, and finally 0.8190. On the ascension, a break above the 0.8275 resistance will activate additional means of correction at 0.8310 and 0.8355.

RBNZ Governor Wheeler has already fretted publicly about surging house price inflation, and such concerns were enough to give January's policy statement a distinctly hawkish bias: "House price inflation has increased and we are watching this and household credit growth closely. The Bank does not want to see financial stability or inflation risks accentuated by housing demand getting too far ahead of supply."

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