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AUD/NZD has skyrocketed after the.......>

AUSSIE-KIWI
AUSSIE-KIWI: AUD/NZD has skyrocketed after the RBNZ slashed its OCR by 50bps,
putting it on par with the RBA's cash rate at 1.0%. The decision caught
participants off guard as a 25bps was widely exp. & fully priced in.
- AUD/NZD sits at NZ$1.0459, 100 pips higher on the day. Bulls look to the
trendline resistance/50-DMA at NZ$1.0480/82 after the pair failed to make
headway beyond these levels and pulled back a tad. A clean break here would
bring into play the NZ$1.0500 figure, as well as the 100-DMA/200-DMA at
NZ$1.0519/23. A retreat below the 38.2% retracement of the YtD range at
NZ$1.0443 would please bears & expose the psychological barrier provided by
NZ$1.0400. 
- Worth noting that the 100-DMA is approaching the 200-DMA to the upside,
further gains may inspire a golden cross formation.

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