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Forex: NZD/USD recovers the mark of 0.8489/90

FXstreet.com (Barcelona) - The NZD/USD recovered lost ground off the 0.8470 level during US trading Monday. This proved to mark the trough of the pair’s decent today, as it has been moving higher in moments since. On the heels of economic data in the United States, the cross is now trading at 0.8489/90, whilst still incurring a staggering loss of -0.90%.

After falling below the 0.8528 supportive bastion, Mataf.net analysts calculate the NZD/USD will be grounded by further means of support at 0.8489 and 0.8432. Alternatively, recovering lost ground and breaching the 0.8624 will lead to the testing of resistances at 0.8681 and 0.8700.

In the United States, the NY Empire State Manufacturing Index came in at 3.05 in April, against expectations of 6.50. Moreover, the Net Long-term TIC Flows (February) yielded a result of $-17.8B, against estimates of $41.3B.

US Total Net TIC Flows (Feb): $53.6B vs $116.8B (Jan)

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Forex: USD/CAD falls below 1.0200

The UAD/CAD has rejected the 1.0225 level, highest level in 10 days, and after falling around 35 pips in the last few minutes, the pair has broken down the 1.0200 level to trade at 1.0190. Currently the pair trades around 1.0195.
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