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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).

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