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Forex: Kiwi continues to slide, now trading at lowest levels since late March

FXstreet.com (Barcelona) - The Kiwi continued its decline today, closing down 22 pips at 0.8252. This was the lowest close for the pair since March 20th, 2013. Earlier in the session NZ Retail Sales were released at 22:45GMT. The pair was trading as high as 0.8270 before the report but has now leaked lower is back to flat at 0.8248.

According to analysts at FXStreet.com, “The New Zealand retail sales number for the first trimester of the year came below expectations at 0.5% vs 0.8% Reuters poll and 2.10% previous. On a yearly basis, the print stood at 3.2% vs 3.3% Reuters poll and 2.9% prior. Ten of the 15 retail industries had higher sales volumes, the bureau of statistics in New Zealand reported.”

The FXStreet.com Trend Index remains in Slightly Bearish set up on the daily chart, while the OB/OS Index reads Neutral. Initial support comes in at 0.8228(previous day low), followed by 0.8190 (support from mid March). First resistance comes in at 0.8286 (the 200 dma), followed by 0.8320 (previous support, now resistance on daily chart)

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