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Bearish Kiwi Onslaught

  • The NZD has traded sharply lower today with NZDUSD slipping at the fastest rate since March to put the pair in close proximity to the late July lows of 0.6902 and the Jul 20 low of 0.6881.
  • From a technical viewpoint, trend conditions in NZDUSD are bearish and today's move lower suggests further weakness is likely near-term.
  • A break of 0.6881 would confirm a resumption of a bearish cycle that started late February.

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