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Having touched recovery highs of $0.7053,......>

KIWI
KIWI: Having touched recovery highs of $0.7053, Aud/Nzd demand was quick to pare
gains following the modest upgrade to CPI in the RBA SoMP. The heavy tone
spilled over into Europe with a move to $0.7016. Rate looks set to challenge the
$0.7000 area, targeting the YTD low at $0.6985. Meanwhile, the cross picks up
fresh momentum to NZ$1.0736 with resistance at NZ$1.0756/63 (Intraday, Mar22
highs), ahead of NZ$1.0781/82 (50% NZ$1.1073-1.0488, 100-dma).  

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