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AUD/NZD last deals at NZ$1.0475, 24.....>

AUSSIE-KIWI
AUSSIE-KIWI: AUD/NZD last deals at NZ$1.0475, 24 pips better off, after jumping
~25 pips higher at Asia open on the back of soft NZ NZIER quarterly business
opinion survey. The pair then ebbed off of highs, before posting another (more
modest) spike upon the release of strong Australian building approvals data.
- This comes after the pair finished 21 pips higher yesterday.
- Yesterday's breach of the falling wedge highlighted in a recent MNI Analysis
email (AUDNZD Falling Wedge Mar 28 1254BST) turns the initial bullish focus to
the 100-DMA at NZ$1.0494, after the aforementioned DMA has remained intact since
mid-Oct. On the downside, bears look for a dive through the NZ$1.0403-NZ$1.0399
region, which provided technical support last Thursday and Friday, as well as
yesterday.
- All eyes are on Australia, with the RBA MonPol decision and FY2019/20 federal
budget due later today.

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