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Narrow Ranges in Pre-Christmas Trade


NZD/USD prints at $0.6290/95, the pair is little changed from opening levels.

  • Kiwi has observed narrow ranges this morning, NZD/USD is consolidating below the $0.63 handle. Cross asset flows are muted; US Equity Futures are a touch lower and US Tsys are unchanged.
  • Technically an uptrend is firmly intact, bulls target a break of the $0.63 handle which opens $0.6412 (high from Jul 13). On the downside bears focus on the $0.62 handle and the 20-Day EMA ($0.6163).
  • AUD/NZD continues to see-saw around the $1.08 handle in a narrow range. The 200-Day EMA ($1.0818) is capping gains and the 20-Day EMA ($1.0779) is providing support.
  • Domestic newsflow has been light today and the data docket is empty leaving wider swings in risk sentiment as the main driver in NZD today.

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