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Forex: NZD/USD trading at session highs at 0.8436/39

FXstreet.com (Barcelona) - The kiwi craze has extended into Wednesday, following an otherwise steadfast rise against the American dollar yesterday. Having edged higher continuously during overnight and European trading, the cross is now settling at session highs at 0.8436/39 in these moments, up +0.27% on the day.

According to the ICN.com analyst team, “The NZD/USD settled above its linear regression indicators and above the support at 0.8385, attempting to rise again. However, although the current uptrend is considered a correction to retest the earlier-broken support, we believe potential bullishness is likely, provided that 0.8355 holds.”

Mataf.net analysts point to supports at 0.8440, onto the 0.8475 handle, and finally 0.8504. On the decline, a break below the 0.8376 level will initiate resistance at 0.8347 and 0.8312.

All is relatively quiet on the data front, however an afternoon slate of US economic indicators could move things for the pair. In New Zealand, nothing of note is scheduled for the remainder of the day.

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