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Forex pairs in this Article » NZD/USD (Barcelona) - After peaking briefly in the region of 0.8190, the NZDUSD has rescinded its daily gains, consolidating towards the mark of 0.8174 during European trading at the time of writing. The subsequent move has also taken the pair into negative territory, where it presently constitutes a loss of -0.05% below its opening Wednesday.

"Trading is biased to the downside especially with the NZDUSD stabile below 0.8185 and stability below this level might extend the downside move. The stochastic is trading in oversold areas, having provided a positive crossover, which might cause heavy volatility and upside corrections - yet trading below the 0.8255 level makes us hold onto our negative expectations." Writes the technical analyst team at analysts point to supportive means at 0.8160, followed by 0.8135, and 0.8100. On the upside or in the event of a crossover into positive territory, the resistive structures of 0.8185, followed by 0.8200, and finally 0.8225 will provide corrective means for the NZDUSD.

Wednesday holds a few surprises or noteworthy events for the pair, beginning at 18:00 GMT in the United States with the Fed's Beige Book. Later in the evening in New Zealand, the Food Price Index (MoM) and the Business NZ PMI (September) are also slated for release.
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