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NZD/USD Price Dips below key Fibonacci support
NZD/USD has breached Fibonacci support at 0.6317 amid losses in the US index futures. The daily chart RSI is reporting oversold conditions. The selling interest around New Zealand dollar remains strong amid risk-off action in the financial markets. The NZD/USD pair fell below 0.6317 soon before press time. That level marks the 78.6% Fibonacci retracement of the rally from 0.6204 to 0.6733. The pair faced rejection near 0.6344 earlier today and is currently reporting a 0.32% loss on the day. Meanwhile, the futures on the S&P 500 are down more than 0.30% at press time. While the 14-day relative strength index is ... (full story)