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Forex: NZD/USD trading at 0.8229/30

The NZD/USD has edged higher in recent moments after bottoming out at the 0.8193 (intraday minimum) earlier today. Since then, the pair has rallied during the European session, paring its losses and moving within a few pips of positive territory at 0.8229/30 at the time of writing.

The calendar is devoid of meaningful events for the NZD Monday, however that does not mean that the kiwi is not keyed into the specter of risk aversion that could break out this week. More specifically, investors will watch the clues tomorrow when several indicators are slated for release across the Eurozone – a continuation of troubles could rekindle some movement.

After spending most of the European session entrenched in negative territory, the cross has recovered recently, and now trades at just -0.02% off its opening. ICN.com analysts identify additional supports in the short-term at 0.8200 onto 0.8155, and finally 0.8110. On the ascension, a prolonged recovery towards the 0.8255 resistance will open up additional measures at 0.8270 and 0.8310.

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