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May 9, 2013
Forex: NZD/USD holds onto gains
FXstreet.com (Córdoba) - The kiwi dollar has held pretty well against the greenback, considering the recent spike of USD demand, and following a limited setback, it finally settled in a range.
NZD/USD lost momentum after peaking at the 0.8475 area, propelled by stronger-than-expected NZ employment data, and entered in a sideways phase with the 0.8425 area containing the downside.
At time of writing, NZD/USD is trading around 0.8440, 0.3% above its opening price. On the downside, if the pair falls below 0.8425/20, next supports are seen at 0.8400 and 0.8360 (low May 8). On the upside, resistances could be found at 0.8475 (daily high), 0.8500 (psychological level) and 0.8520 (high May 7).
NZD/USD lost momentum after peaking at the 0.8475 area, propelled by stronger-than-expected NZ employment data, and entered in a sideways phase with the 0.8425 area containing the downside.
At time of writing, NZD/USD is trading around 0.8440, 0.3% above its opening price. On the downside, if the pair falls below 0.8425/20, next supports are seen at 0.8400 and 0.8360 (low May 8). On the upside, resistances could be found at 0.8475 (daily high), 0.8500 (psychological level) and 0.8520 (high May 7).