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Forex pairs in this Article » NZD/USD (Barcelona) - The NZDUSD has become entrenched in negative territory Wednesday after an overnight attempt on the 0.8400 level failed. Following a subsequent reversal, the pair has surrendered nearly 35 pips as of European trading, trading at 0.8360/62 at the time of writing, whilst incurring a loss of -0.38%.

Wednesday contains some key events for the NZ calendar, as later tonight at 20:00 GMT the RBNZ is slated to make its Interest Rate Decision, expected at 2.5%, accompanied by the RBNZ Monetary Policy Statement.

The Analyst Team, points to supports reinforcing the NZDUSD at 0.8349, onto 0.8321, and 0.8297. Conversely, a prolonged thrust above the 0.8401 handle will trigger resistance at 0.8425 and 0.8453.

According to the BNZ Research Team, "The 'fundamental' drivers of the NZDUSD are still supportive of the uptrend. Given this, we'd expect to see a return to the recent 0.8050 highs in the NZD/AUD, contingent on what the RBNZ delivers at tomorrow morning's policy meeting."
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