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Kiwi Extends Gains, Key Technical Levels Under Pressure

NZD

NZD/JPY has punched through its May 10 YtD high of Y79.43 during RBNZ Gov Orr's Q&A and printed best levels since Apr 13, 2018. The rate last trades at Y79.50, 86 pips better off, with topside focus on Y79.62, which represents the high print of aforementioned Apr 13, 2018. Above there opens the psychological Y80.00 level.

  • Meanwhile, NZD/USD has pierced the $0.7300 figure and now trades +78 pips at $0.7306. The rate is capped by resistance from May 10/Mar 2 highs of $0.7305/07. A clean breakout would bring Feb 25 cycle high of $0.7465 into focus.

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