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Modest gains in Asia equities improved risk....>

KIWI
KIWI: Modest gains in Asia equities improved risk overnight, Kiwi remains top of
G10 at the European crossover with gains extending to $0.6559. The 21-dma
provides initial resistance at $0.6572, a break opens $0.6582 which represents
the 50% fibo of the May range. Broken channel base resistance-turned-support
comes in today at $0.6503. Also, a worthy reminder of the recent death cross
formation (50-dma below 200-dma).
- Despite the minor recovery KIWI continues to generate outright bearish
momentum, according to the MNI FX Technical Signal Monitor. Kiwi crosses have
also charted bearish signals on the tech indicators. NZDJPY charted a triple
bearish crossover. Last Y71.75. EURNZD charted a bullish crossover (50-dma above
100-dma), last NZ$1.7056. AUDNZD charted a bullish crossover (50-dma above
100-dma). NZDCAD & NZDCHF charted bearish crossovers (50-dma below 100-dma).
- The RBNZ will publish its Financial Stability Report tomorrow, which will be
followed by a presser and parliamentary testimony from RBNZ Gov Orr. - On the
data front, ANZ business confidence comes out tomorrow, while building permits
are due on Thursday.

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