Forex: NZD/USD flat for last 2 months, above 0.8120

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Forex: NZD/USD flat for last 2 months, above 0.8120

FITITOL--> FXstreet.com (Barcelona) - NZD/USD keeps quoted inside its wide trading range 0.8000/0.8280 for second straight month, last at 0.8153, retreating from session highs 0.8163, and bouncing from day lows 0.8121. The pair is lower a -0.37% from yesterday's opening in Asia-Pacific, and -0.85% from previous weekly close past Friday.

According to the FXEmpire.com Analysis Team: “this pair looks to be heavily supported at this point in time, leading us to buy only. The pullbacks should be considered as buying opportunities, and as long as we are above the 0.80 handle â€" that is just what we will do,” the team says, adding: “0.85 is probably the first significant target to the upside. Support can be seen all the way down to the 50% Fibonacci level, which is actually a bit below the above mentioned 0.80 handle.”

Immediate support for the downside lie at yesterday's and April 19 lows 0.8121, followed by April 27 lows 0.8104 and April 24 lows 0.8097. For the upside, close st resistance for NZD/USD show at recent session highs/yesterday's lows 0.8162, followed by yesterday's and April 26 highs 0.8191, and Friday's and April 17 highs 0.8237.