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1 Apr 2013
Forex: NZD/USD finding bids above 0.8350
FXstreet.com (Barcelona) - NZD/USD is last at fresh session lows 0.8353, down on broad USD strength, following disappointing PMI manufacturing figures coming out of China. Even though better than previous, PMI data was lower than expected.
Oil started the week in Asia-Pacific with a spike higher also followed by Gold but it finally turned around and now trades at fresh session lows, while Gold still holds in the positive, and local share markets trade all in the red, with Nikkie index down almost -1%. European markets will remain closed for a 4 day weekend on Eastern, while US equity markets closed Friday at record all time highs.
Immediate support to the downside for Kiwi lies at recent session/Friday's lows 0.8347, followed by past week's lows 0.8336/29, and March 20 highs at 0.8287. To the upside, closest resistance shows at March 25 highs 0.8372, followed by March 28 highs at 0.8386, and March 27 highs at 0.8400.
Oil started the week in Asia-Pacific with a spike higher also followed by Gold but it finally turned around and now trades at fresh session lows, while Gold still holds in the positive, and local share markets trade all in the red, with Nikkie index down almost -1%. European markets will remain closed for a 4 day weekend on Eastern, while US equity markets closed Friday at record all time highs.
Immediate support to the downside for Kiwi lies at recent session/Friday's lows 0.8347, followed by past week's lows 0.8336/29, and March 20 highs at 0.8287. To the upside, closest resistance shows at March 25 highs 0.8372, followed by March 28 highs at 0.8386, and March 27 highs at 0.8400.