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Needle Still Points South

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Heading North

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Bull Rally Accelerates

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Economists Survey Raises 2021 CPI Forecast To 4.9%

KIWI TECHS
KIWI TECHS: Bears Need Close Below $0.7250
*RES 4: $0.7391 - Low July 21 now resistance 
*RES 3: $0.7377 - Hourly resistance Aug 7 
*RES 2: $0.7342 - Alternating hourly support/resistance 
*RES 1: $0.7302 - Hourly resistance Aug 14
*PRICE: $0.7288 @ 2100GMT
*SUP 1: $0.7275 - Hourly support Aug 11
*SUP 2: $0.7250 - Low July 17
*SUP 3: $0.7203 - Monthly Low July 11
*SUP 4: $0.7170 - Low June 7
*COMMENTARY: The break and close below the daily bull channel base and 21-DMA
added weight to the bearish case with bears needing a close below $0.7250 to
shift focus to $0.7115-0.7203 where 100 & 200-DMAs are situated. The Bollinger
base ($0.7253) and studies approaching O/S are key concerns for bears. In saying
that, bulls need a close above the 21-DMA ($0.7402) to ease bearish pressure and
shift focus back to $0.7458-0.7577.