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  • A bumper reading for New Zealand’s GDP saw the Kiwi take a lift over the 0.66 handle, with quarterly NZ GDP clocking in at 1.0% versus the forecast 0.8% (last 0.5%).
  • A firm lower-high pattern on the Daily candles has the NZD/USD heading into a stiff resistance zone near the 50-day EMA, and failure to extend the current bullish play into the 200-day EMA will see the Kiwi-Dollar pairing slumping back from another lower  high.
  • As the Kiwi breaks upwards of the previous bullish trend, a fallback into previous resistance-turned-support could be on the cards if bulls run out of gas.

NZD/USD Chart, 15-Minute

Spot rate 0.6645
Relative change 0.51%
High 0.6651
Low 0.6601
   
Trend Bullish
   
Support 1 0.6601 (current day low)
Support 2 0.6578 (200-hour EMA)
Support 3 0.6538 (current week low)
   
Resistance 1 0.6672 (50-day EMA)
Resistance 2 0.6820 (August peak)
Resistance 3 0.6909 (200-day EMA)