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FXStreet (Mumbai) - The New Zealand dollar shaved-off previous gains against the US dollar in the mid-Asian session, keeping NZD/USD to 0.77 barrier, as the Kiwi took a breather in its upsurge and squared off positions ahead of Friday close.
NZD/USD supported above 0.7645
Currently, the NZD/USD pair trades -0.20% lower at 0.7657, retreating from 0.7646 lows. NZD/USD stalled its winning streak and reversed previous gains as traders viewed the recent rally as overdone and booked profit ahead of Monday’s crucial NZ CPI figures.
Moreover, traders prefer to remain on the side lines ahead of US CPI print later in the day, dragging NZD/USD lower. Meanwhile, lower oil prices and losses seen in the Aussie also continue to weigh on the Kiwi pair.
NZD/USD Levels to consider
To the upside, the next resistance is located at 0.7700 levels and above which it could extend gains to 0.7725 levels. To the downside immediate support might be located at 0.7646 (Today’s Low) levels below that at 0.7600 levels.