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Firms in Holiday Trade, Data Docket Empty This Week

NZD

NZD/USD prints at $0.6325/30, the pair rose ~0.4% last week.

  • Kiwi firmed amid thin liquidity yesterday rising to its highest level since July yesterday as participants digested Fridays softer than forecast US PCE data.
  • NZD/USD breached the $0.63 handle as the recent bull cycle extends.
  • On the upside bulls now target the high from 14 Jul ($0.6412), a break through here opens 2023 highs ($0.6538). On the downside bears first target a break of the 20-Day EMA ($0.6203) to turn the tide.
  • Local markets were closed Monday and Tuesday this week for the Christmas holiday period and there has been little domestic newsflow of note.
  • A reminder that the local data docket is empty today.

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