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After moving within a 10 pip range in..........>

KIWI
KIWI: After moving within a 10 pip range in yesterday's Asia-Pac session,
NZD/USD slid as the greenback gained traction ahead of Wednesday's testimony
from Fed Chair Powell. The downward move stopped short of the $0.6600 barrier
and the pair finished a handful of pips above the figure.
- NZD/USD last deals at $0.6607, virtually unchanged on the day. Bears would be
pleased by a clean break below $0.6600, which would expose the 50-DMA & 23.6%
fibo retracement of the slide from $0.6939 to the YtD low, both of which
coincide at $0.6590. Further below opens the May 27 & 28 highs of $0.6559. Bulls
look to recover the 21-DMA at $0.6616 before turning focus to the 38.2%
retracement of the aforementioned range at $0.6657.
- NZ food price index will be published at 23:45 BST. Card spending data hits on
Thursday and BusinessNZ manufacturing PMI comes out on Friday. Also this week,
RBNZ Gov Orr will speak on Phase 2 of the Reserve Bank Act review.
- Worth watching today's release of Chinese inflation data as well.

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