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NZD/USD on a modest decline

FXStreet (Guatemala) - NZD/USD is trading at 0.8471, down -0.15% on the day, having posted a daily high at 0.8503 and low at 0.8467.

Jane Foley, Senior Currency Strategist analyst at Rabobank explained that
while political uncertainty poses a threat for the NZD into the September election, the strong showing in the opinion polls for the PM National Party suggests that the currency impact should be modest. “We expect USD/NZD to hold a the 0.84 to 0.85 area on a 3 mth view with risk for a moderate decline towards 0.82 on a 12 mth view on the assumption that the USD displays signs of broad based strength medium-term”.

NZD/USD hourly levels

Spot is presently trading at 0.8472, and next resistance can be seen at 0.8484 (Hourly 20 EMA), 0.8485 (Daily Classic PP), 0.8489 (Daily Open), 0.8493 (Weekly High) and 0.8503 (Daily Classic R1). Next support to the downside can be found at 0.8469 (Hourly 100 SMA), 0.8469 (Weekly Classic PP), 0.8467 (Daily Low), 0.8467 (Yesterday's Low) and 0.8466 (Daily Classic S1).

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