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Despite paring modest gains post strong NZ.....>

KIWI
KIWI: Despite paring modest gains post strong NZ CPI data, NZD holds firm and
remains top of G10 at the European crossover. NZDUSD eases to the $0.6560/65
area with bulls looking to reclaim $0.6600 for the next leg higher and challenge
down trendline resistance & 23.6% of the ytd range at $0.6655/64. AUDNZD moved
through the 200-dma & 50% of ytd range (NZ$1.0832) to NZ$1.0820, its lowest
levels in nearly four months, before basing. A break of NZ$1.0800, opens the
Jun28 low at NZ$1.0783. NZDJPY firmed to Y73.72, bulls initially need to recover
the Y74 handle before targeting 100-dma resistance at Y74.86. 

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