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Kiwi Goes Offered Ahead Of RBNZ

NZD

NZD has landed at the bottom of the G10 pile, with BBG trader sources flagging NZD/USD sales by funds positioning ahead of the RBNZ's monetary policy announcement, slated for Wednesday.

  • NZD/USD trades -17 pips at $0.7013, off its earlier session low located at $0.7007. Familiar technical levels remain in play.
  • NZD/JPY has shed 6 pips and last sits at Y76.84. A clean break under Apr 9 low of Y76.71 would shift focus to Mar 24 low/100-DMA at Y75.63/59. On the flip side, a jump above Apr 9 high of Y77.41 would open up Apr 5 high of Y77.96.
  • AND/NZD has added a handful of pips, moving past yesterday's peak. It last sits at NZ$1.0852, topside focus falls on Apr 6 high of NZ$1.0876, followed by Mar 29 cycle high of NZ$1.0947. Bears keep an eye on yesterday's/Apr 2 lows of NZ$1.0815/10.
  • Per the data released earlier today, NZ card spending rose 2.0% M/M in Mar after falling 3.2% in Feb, while NZIER Quarterly Survey of Business Opinion saw NZ firms turn net optimistic.

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