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17 Aug 2018
NZD/UZD Technical Analysis: NZ PPI beats, sends the Kiwi into 0.66
- The Kiwi is lifting back away from the week's low of 0.6543, a major technical bottom for the pair, as market sentiment attempts to improve for Friday's major market sessions.
- The NZD/USD marked in a 30-month low this week as the US Dollar makes gain across the broader FX market.
- The New Zealand PPI figures clocked in better than expected for Friday, coming in at 1.0% versus the previous period's 0.6%.
NZD/USD Chart, 1-Hour
| Spot rate: | 0.6599 |
| Relative change: | 0.22% |
| High: | 0.6601 |
| Low: | 0.6574 |
| Trend: | Sideways to bullish |
| Support 1: | 0.6574 (current day low) |
| Support 2: | 0.6543 (current week low) |
| Support 3: | 0.6500 (major technical level) |
| Resistance 1: | 0.6607 (current week high) |
| Resistance 2: | 0.6678 (61.8% Fibo retracement level) |
| Resistance 3: | 0.6762 (previous week high) |