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Little Changed v USD, AUD/NZD Firms

NZD

NZD/USD prints at $0.6240/45, little changed from Friday's closing levels dealing in a narrow 20 pip range today.

  • The pair was pressured in early dealing, previously mentioned heightened geopolitical tensions centred on Sino-US relations and the latest round of North Korean missile launches supported the USD. However there was little follow through and losses were pared.
  • AUD/NZD has firmed printing its highest level since November and bulls can target $1.1101, which is a 61.8% retracement of the Sep-Dec down leg.
  • Cross asset wise; US Equity Futures are marginally softer, and BBDXY is 0.1% firmer.
  • Cash markets in the US remained closed due to Presidents Day, wider liquidity will be affected for the remainder of the session.

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