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Forex: NZD/USD holding ground above key 0.8500

FXstreet.com (Barcelona) - NZD/USD is last at 0.8504, off fresh 2-day lows at 0.8479. The pair is down -0.72% from previous Asia-Pacific open yesterday, but about flat for the week, unable to get above Tuesday's weekly highs at 0.8586.

The pair had a massive run lower on the back of falling commodities such as Gold or Oil that closed in NY down -1.23% and -2.22% respectively, following lower than expected US ADP report. According to analysts, now the 0.85 is the key pivot price in order to see if either NZD/USD is able to recover ground, or needs to look for lower bids.

Immediate support to the downside for NZD/USD lies at NY session lows 0.8479, followed by Monday's weekly lows at 0.8462, and April 19 lows at 0.8401. To the upside, closets resistance shows at NY session highs 0.8516, followed by Tuesday's lows at 0.8537, and April 25 highs at 0.8565.

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