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AUSSIE-KIWI: AUD/NZD has shed 4 pips thus far and last sits at NZ$1.0745, with
New Zealand off for a public holiday. Familiar risk events have been in focus,
while locally, the AFR reported that the gov't is planning to unveil a fresh
stimulus package for building industry this week. On the data front, AiG M'fing
PMI improved to 41.6 from 35.8, while final CBA M'fing PMI was revised to 44.0
- A retreat under May 28/22 lows, coinciding at NZ$1.0668, would bring May 11
low of NZ$1.0608 into play. Meanwhile, bulls remain in charge after the recent
"golden cross" formation and look to a rebound above May 18 high of NZ$1.0844.
This would open up Nov 7 high of NZ$1.0866.