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AUD/NZD has added 11 pips and last......>

AUSSIE-KIWI
AUSSIE-KIWI: AUD/NZD has added 11 pips and last deals at NZ$1.0599, with the
kiwi weighed on by soft domestic BusinessNZ m'fing PMI and card spending prints.
Elsewhere, BBG trader sources said that "weak longs in AUD/USD are being flushed
out by spot desks ahead of the RBA's Financial Stability Report," with cross
flows affecting AUD/NZD.
- The rate ebbed 11 pips lower yesterday, with both sides of the pair struggling
vs. their G10 peers, alongside the broader commodity complex.
- Following last week's confirmation of the falling wedge pattern, AUD/NZD is
seen testing the NZ$1.0600 mark again. A clean break above the figure would open
up the upper 1.0% 10-DMA envelope at NZ$1.0647, followed by the Jan 21 YTD high
of NZ$1.0670. Conversely, bears look for a retreat towards NZ$1.0533, which
represents Monday's weekly low.

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