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Kiwi Slightly Lower, Local Markets Shut

NZD

NZD/USD starts the new week on a marginally softer footing, with liquidity in NZD crosses thinned out by a local public holiday. The pair last sits at $0.7153, 4 pips lower on the day.

  • Bears look for a break below its 200-DMA/round figure support at $0.7102/00. Conversely, a clearance of Oct 21 high of $0.7219 would bring descending channel top/Jun 7 high at $0.7241/43 into play.
  • Note that the ascending 50-DMA is now touching the 100-DMA at $0.7020, a crossover would provide a bullish signal.
  • Later this week, focus will turn to New Zealand's trade balance & final ANZ Business Confidence (Wednesday) as well as ANZ Consumer Confidence (Friday).

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