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A quiet start for NZD/USD, with the cross......>

KIWI
KIWI: A quiet start for NZD/USD, with the cross last dealing at $0.6653, a
handful of pips softer on the day.
- NZD/USD fell afoul of the broader USD strength on Tuesday, bottoming at
$0.6629 (a fresh YtD low, excluding the January 3 flash crash), though the pair
lacked follow through below $0.6633, which represents the 61.8% retracement of
the move from $0.6425 to $0.6970. These two levels provide initial support
today. Resistance comes in at $0.6685, Tuesday's intraday high, followed by the
50% retracement of the move from $0.6425 to $0.6970, at $0.6697, and the
psychological $0.6700 level.
- Participants will likely focus on Australian CPI data, due later today, ahead
of the ANZAC holiday, which will be observed tomorrow.
- Elsewhere it is worth noting that the NZ government reported that NZ job
adverts rose by 1.2% in Q/Q terms during Q1.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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