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AUDNZD has edged away from the recent...>

AUSSIE-KIWI
AUSSIE-KIWI: AUDNZD has edged away from the recent highs in early dealing this
week, after MonPol divergence under new RBNZ Governor Spencer seemingly drove
the pair over the last couple of weeks. The cross last deals at ~1.0875.
- The lack of follow through on Friday's 3-month high (1.0962) resulted in a
sell-off on Monday that saw the pair close below the 200-DMA (1.0886). Bears
continue to look for a close below the May 11 high (1.0843) to initially target
the 100-DMA (1.0756). Correcting overbought studies add weight to the case for a
correction. Bulls now need a close above the May 25 low (1.0906) to regain the
upper hand.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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