Detailed analysis of the optical and UV IUE spectra of the symbiotic nova V1329 Cyg is presented. Gaussian de-convolution of the complex emission-line profiles of H_alpha, He II (lambda1640, lambda4686), C III (lambda1909), [O III] lambda5007 into a few components is performed. Based on resulting radial velocities, the regions of formations of the lines in the nebula surrounding the binary system are proposed. Long-term radial velocity changes of the components of the profiles are discussed. Kinematic and spatial properties are confronted with colliding winds model.