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Firms Above $0.62 Handle On Monday


NZD/USD prints at $0.6215/20, the pair rose ~0.8% on Monday.

  • Kiwi firmed yesterday as the improving risk sentiment seen after the BOJ's bond buying operation continued through the European and NY sessions.
  • The pair breached the $0.62 handle and sits on the 20-Day EMA ($0.6214), gains were marginally pared as resistance came in ahead of the 200-Day EMA ($0.6228).
  • Bulls immediate focus is on the 200-Day EMA, a break through here opens 27 July high ($0.6274) and high from July 19 ($0.6315). Bears target the low from 28 July ($0.6121) and low from 29 June ($0.6051).
  • AUD/NZD found support below the $1.08 yesterday and deals in a narrow range last printing at $1.0820/25.
  • Cross asset wise; on Monday S&P500 rose ~0.2% and BBDXY was ~0.2% higher. US Tsy Yields were little changed.
  • On the wire today we have June Building Permits, there is no estimate and the prior read was -2.2% M/M.

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