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Forex: NZD/USD defending 0.84 round bids

FXstreet.com (Barcelona) - NZD/USD is last at 0.8412 bids, off fresh session and 2-day lows at 0.84 round, losing some of its recent shine, that took the pair just past Thursday to fresh multi-month highs at 0.8675. The pair has lost more than -1% in last 2 trading days, adding to almost -2% for the week so far, leaving it as one of the weakest currency among majors for last 2 trading days, along CAD, and only above Aussie.

Kiwi has been unable to bounce above 38.2% Fibo retrace of latest down leg from mentioned multi-month highs to Monday's weekly lows at 0.8375, and now trades below ascending trendline coming from double March 14 lows at 0.8160, initially breached momentarily after the Boston bombing attacks. According to analysts, once the pair has broken below the 21 day SMA that had been working as support, now in case broke below the 0.8340/50 level, it would put 200 day SMA in focus around the 0.8250 level.

Immediate support to the downside for NZD/USD lies at recent session lows 0.8400, followed by Monday's weekly lows at 0.8375, and April 04 lows at 0.8360. To the upside, closest resistance shows at Feb 25 highs 0.8420, followed by April 03 highs at 0.8450, and Tuesday's highs at 0.8510.

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