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Consolidating Recent Gains, Local Data Calendar Empty Today

NZD

NZD/USD prints at $0.6330/35, the pair was a touch softer on Tuesday falling ~0.1%.

  • The pair consolidated recent gains yesterday dealing in a narrow range against the USD.
  • NZD/USD has risen ~3% in May thus far and dealt in a narrow $0.6320/40 range yesterday.
  • Bulls now target a break above high from 5 April ($0.6379), which opens year to date highs at $0.6538. Bears focus on the 200-Day EMA ($0.6248).
  • AUD/NZD sits below $1.07, the pair continues to see around the handle in a narrow range.
  • Cross asset wise; S&P500 fell 0.5% and BBDXY rose 0.1%. 10 Year US Treasury Yields rose 2bps.
  • The domestic data calendar is empty today, wider swings in risk sentiment will be the main driver in NZD.

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