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AUD/NZD has eased off and last sits.....>

AUSSIE-KIWI
AUSSIE-KIWI: AUD/NZD has eased off and last sits at NZ$1.0578, 7 pips worse off.
- The latest NZ gov't 9-month fiscal statements were released early doors today,
indicating a higher than exp. budget surplus of NZ$2.52bn.
- Monday's Asia-Pacific trade saw some early AUD/NZD sales dragging the pair to
its intraday low of NZ$1.0556 before bouncing. Worth noting traders highlighted
AUD demand from local exporters. Subsequent gains registered through the day
allowed the rate to close 17 pips higher.
- On the technical front, a clean break below Friday's/Monday's low of
NZ$1.0560/56 would expose the lower 1.0% 10-DMA envelope, which comes in at
NZ$1.0531. Meanwhile, a recovery through Monday's high of NZ$1.0589, which has
capped gains so far, would open up the 21-DMA at NZ$1.0599, last breached a week
ago.

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