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Kiwi Falters

NZD

Thursday was a bearish inside day for NZD/USD as the kiwi dollar struggled for any topside impetus. The rate sold off in Asia and Europe and subsequent recovery attempts proved unsustainable.

  • NZD/USD last changes hands at $0.6962, little changed on the day. Bears look for a retreat under Mar 22 low of $0.6864 before targeting the 50-DMA at $0.6748. Conversely, a rebound above Mar 23 high of $0.6989 would shift focus to Nov 18 high of $0.7053.
  • Local data highlights next week include building permits & ANZ Business Confidence (Wednesday) as well as CoreLogic House Price Index & ANZ Consumer Confidence (Friday).

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