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NZD

NZD/USD continued to ride on the wave of broader risk-on mood Wednesday, printing a fresh two-week high as a result. Domestic headline flow was fairly thin, but firmer equity and commodity markets allowed the kiwi to creep higher still.

  • The rate sits at $0.6682, little changed on the day, with initial topside focus falling on former support zone at $0.6702/03. A clean break above that area would expose Jan 19 high of $0.6812. Conversely, a retreat under Feb 4 low of $0.6590 would draw attention to Jan 28 cycle low of $0.6530.
  • Looking ahead, New Zealand's BusinessNZ M'fing PMI, card spending & inflation expectations will hit the wires on Friday.

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