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FxWirePro: NZD/USD pares losses, edges higher from day's lows at 0.6295

NZD/USD saw a minor recovery on the Fonterra news this week, but downside pressures continue as we head towards the end of the week NZD/USD is currently trading at 0.6345 with a high of 0.6353 and a low of 0.6295 on the …

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  • NZD/USD saw a minor recovery on the Fonterra news this week, but downside pressures continue as we head towards the end of the week

  • NZD/USD is currently trading at 0.6345 with a high of 0.6353 and a low of 0.6295 on the day

  • Daily Tenkan at 0.6346 is strong resistance on the upside, while support on the downside is located at 0.6295 (day's low) 

  • Broad based USD strength seen across the board after Fed chair Yellen kept alive 2015 Fed rate hikes in a hawkish speech overnight

  • A break of 0.6329 (20 DMA) to the downside exposes the 50 SMA at 0.6320 and 0.6250 trend-line support beneath there

  • US GDP data due later in the U.S. session in focus for further direction in the pair

 

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