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Firmer On Tuesday, Holds Above $0.62

NZD

NZD/USD prints at $0.6210/15, the pair rose ~0.4% on Tuesday.

  • The pair firmed through the European as the tailwind from firmer than expected China GDP lingered. Resistance was seen ahead of the 20-Day EMA ($0.6229).
  • Weakness in equities saw NZD/USD pare gains, retreating off session highs. The pair held above $0.62, as support was seen ahead of the handle.
  • Bulls immediate attention is on the 20-Day EMA ($0.6229), from here they look to break the 200-Day EMA ($0.6259). Bears first look to break $0.6162, the low from April 17.
  • The average price at yesterdays Whole Milk Powder Auction rose to $3089/tonne up 1.2% from the previous auction.
  • Cross asset wise; DXY was ~0.4% lower and S&P500 was little changed. 10 Year US Treasury Yields were ~2bps softer.
  • The domestic data calendar is empty today.
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