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Free AccessNarrow Ranges In Asia
NZD/USD prints at $0.5925/30, the pair is marginally lower than opening levels.
- Narrow ranges have persisted thus far on Friday, NZD/USD has observed a $0.5920/40 range for the most part.
- The pair still remains in a downtrend; Bears look to break $0.5859 (6 Sep low) which opens $0.5757 (low from 4 Nov 22) and $0.5728 a Fibonacci projection.
- Bulls focus is on a break of yesterday's high ($0.5985), which opens the high from 10 Aug ($0.6118) and the 200-Day EMA ($0.6138).
- AUD/NZD is a touch firmer, however the cross remains below the 200-Day EMA for now.
- The August Trade Balance printed at a deficit of $2.291bn, as imports rose and exports fell in the month.
- Wider swings in risk sentiment will be the main driver in NZD today.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.