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AUSSIE: AUD/USD last deals 6 pips better off at $0.6887. A minor uptick was
noted upon the release of the latest GDP numbers out of New Zealand, as the Y/Y
metric topped forecasts with the prior Y/Y reading revised higher.
- On the technical front, bulls now look to a breach of the 200-HMA at $0.6910,
ahead of the 21-DMA, located a further 18 pips above. Bears eye the 100-HMA at
$0.6871 and a break here opens the lower 1.0% 10-DMA envelope at $0.6853.
- Meanwhile, AUD/NZD dropped on the release and last trades at NZ$1.0501, 26
pips worse off. Bulls need to retake the 100-DMA at NZ$1.0508 before challenging
yesterday's high of NZ$1.0537. Bears look to Apr 2 & 3 highs of NZ$1.0496, ahead
of the Mar 29 high/Apr 3 low of NZ$1.0452/50.
- Australian focus today turns to a speech from RBA Gov Lowe, after the latest
RBA minutes revealed that members see more rate cuts in the period ahead "more
likely than not." PMI tallies from CBA are due tomorrow.