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Forex: NZD/USD again below 0.85

FXstreet.com (Barcelona) - Kiwi dollar has come under the 0.85 handle again this Monday in Asia-Pacific following massive sell off in precious metals and lower than expected China CPI, printing fresh session and 3-day lows at 0.8477, on the back of a broad USD bid, but against Yen. The pair is down -1.08% for the session so far.

NZD/USD peaked past Thursday at 0.8676, highest level since Aug 2011, now down more than -2% from there, as commodities have lost around -10% in last week, like in the case of Gold. Volatility is again to upside after a double 5 year low in early April barely below the 60 pips per day on average for previous 14 trading days, now above the 70 pips, on track for longer term average around the 76 pips.

Immediate support to the downside for NZD/USD lies at recent session lows/past Monday's highs 0.8476, followed by Tuesday's lows at 0.8464, and April 02/03 highs at 0.8445. To the upside, closest resistance shows at Friday's lows 0.8546, followed by Friday's close and session highs at 0.8590, and Friday's highs at 0.8643.

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