NZD/USD Bearish as Soft NZ 3Q CPI Weighs

        0044 GMT [Dow Jones] The NZD/USD is likely to trade with a bearish bias Thursday, undermined by lower-than-expected New Zealand 3Q CPI of +0.3% on-quarter (versus forecast +0.5%); positive USD sentiment; Kiwi sales on a buoyant AUD/NZD cross; and Kiwi sales on a soft NZD/JPY cross amid increased investor risk aversion. The daily chart is mixed as the MACD indicator is bullish, but the slow stochastic measure has turned bearish at overbought levels. Support is at 0.7804 (Oct. 15 low); a breach would target 0.7792 (Oct. 13 low), then 0.7780 (Oct. 8 low) and 0.7712-0.7707 (Oct. 6 low-Sept. 29 low). Resistance is at 0.7961 (hourly chart), then at 0.7990 (Wednesday's high). Spot NZD/USD is at 0.7850. (jerry.tan@wsj.com)
        (END) Dow Jones Newswires
        October 22, 2014 20:44 ET (00:44 GMT)