NZD/USD Soft As Contagion from Weak Aussie Weighs

        0056 GMT [Dow Jones] NZD/USD is likely to trade with a soft tone Tuesday, undermined by contagion from a weak Aussie amid rising doubts that the PBOC's interest rate cut on Friday can reverse the trend of slower growth in China, Australia's biggest trading partner. But NZD/USD losses are tempered by Kiwi demand on a bearish AUD/NZD cross. The daily chart is mixed as the MACD indicator is bullish, but the slow stochastic measure is in bearish mode. Support is at 0.7842 (Monday's low); a breach would expose downside to 0.7805 (Thursday's low). Resistance is at 0.7911 (Monday's high); a breach would tilt the near-term outlook positive, targeting 0.7947 (Friday's high). Spot NZD/USD is at 0.7853. (jerry.tan@wsj.com)
        (END) Dow Jones Newswires

        November 24, 2014 19:56 ET (00:56 GMT)

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