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AUD/NZD has edged lower and last........>

AUSSIE-KIWI
AUSSIE-KIWI: AUD/NZD has edged lower and last trades at NZ$1.0423, ahead of the
release of Aussie Q4 GDP at 0030GMT/1130AEDT.
- The rate added almost 30 pips yesterday, as NZD underperformed on the back of
soft Chinese Caixin PMI data.
- Worth mentioning the latest MNI FX Fair Value update showed that AUD/NZD was
the most undervalued G10 currency pair. For the full update see FI/FX bullets at
11:06 GMT 03/05.
- Bulls look to the 21-DMA at NZ$1.0439, ahead of the Feb 28 peak at NZ$1.0461,
while bears need a break below NZ$1.0383, where the rate bottomed on Tuesday,
before challenging the Feb 14 low of NZ$1.0369.

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